KANSAS CITY, Mo.--NCUA Friday conserved $2.63-million WeDevelopment FCU here, the agency announced.
NCUA said it made the move because of unsafe and unsound practices at the credit union.
Call Report data show the CU lost $254,876 in net income through March and net worth plummeted to -7.29% at the close of March from 3.73% at the end of the year.
WeDevelopment FCU has 933 members and serves underserved communities within 57 census tracts in Jackson County, Mo.