CARROLLTON, Texas—Although profitable and well-capitalized, NCUA has placed $28-million Valwood Park Federal Credit Union here into conservatorship.
NCUA said it placed the one-office, 2,833-member Valwood Park into conservatorship because of what it described as unsafe and unsound practices.
The credit union made $171,888 in 2021 and $86,675 through September of this year. Net worth stands at 14.15%, according to Call Report data.
The credit union serves the cities of Carrollton, Farmers Branch, and Addison in Texas.