Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Credit union conserved in Chicago, Ill.

The NCUA on Wednesday placed Beverly Bus Garage Federal Credit Union ($4 million in assets, 1,300 members) into conservatorship, citing unsafe and unsound practices at the Southside Chicago credit union.

The credit union’s call reports show net income fell by half to $27.1 million for the 12 months ending Dec. 31, but ROA was still 0.68%, down from 1.68% a year earlier. The U.S. average was 0.78% last year.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Jim DuPlessis

A journalist for decades.

More from this author


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.