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economic losses shown on a line graph Source: Shutterstock.

The conserved Edinburg Teachers Credit Union posted a loss of $2,578,138 while its membership dropped by 40%, according to 2021 fourth quarter NCUA financial performance reports.

Since the NCUA took over the Edinburg, Texas-based credit union in March 2021, it has lost money in every quarter except Q1. From March to December of last year, loans fell from $14.4 million to $12 million and assets plummeted from $111 million to $103 million.

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Peter Strozniak

 

Credit Union Times

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