JACKSON, Miss.—NCUA Wednesday placed $162-million Jackson Area FCU here into conservatorship.
The agency said it made the move because of unsafe and unsound practices at the credit union.
The CU has 15,561 members and serves employees of the City of Jackson, as well as employees and elected or appointed officials of Hinds County, Mississippi.
Jackson Area FCU made $1.2-million in net income in 2025 and $135,527 through March, according to Call Report data. Net worth strands at 9.51%.