DEVILS LAKE, N.D.—NCUA Friday placed $201-million Citizens Community CU here into conservatorship. It’s the second CU conserved by the agency in two days.
Thursday the Alabama Credit Union Administration and NCUA together conserved $76-million Riverdale CU in Selma, Ala.
NCUA placed Citizens Community Credit Union into conservatorship because of unsafe and unsound practices at the credit union, the agency stated, adding that it will work with the CU to resolve issues affecting the credit union’s operations.
Citizens Community Credit Union has 11,399 members.