MIDDLETOWN, Ohio--NCUA Friday placed $10.3-million Butler Heritage Federal Credit Union here into conservatorship, the agency announced.
NCUA said it placed Butler Heritage into conservatorship because of unsafe and unsound practices at the credit union.
"While continuing normal member services, the NCUA will work to resolve issues affecting the credit union’s operations," the agency said.
Butler Heritage Federal Credit Union has 836 members.
BHFCU, has lost money each of the last five years, losing $156,150 in net income through September of 2024, according to Call report data. Net worth is 6.29%.