CARROLTON, Texas--Valwood Park Federal Credit Union here is once again under the control and direction of its members, the National Credit Union Administration announced.
“The recovery of Valwood Park reflects the extraordinary efforts of its leadership team, staff, and members,” NCUA Chairman Kyle S. Hauptman said. “Working in collaboration with the NCUA, the new management team saved the credit union from failure by enhancing controls and mitigating risks. Valwood Park is now in a stronger position to provide vital financial services and enhance the financial well-being of residents in Dallas’s Metrocrest communities.”
The CYU's net worth was 10.8% at the end of last year, according to Call Report data. The $25-million Valwood Park also made 1.23 million last year.
NCUA placed Valwood Park Federal Credit Union into conservatorship on Jan. 20, 2023, because of unsafe and unsound practices at the credit union.
Chartered in 1974 and federally insured since, Valwood Park Federal Credit Union is a full-service credit union with 2,686 members. Valwood Park provides financial services to the communities of Carrollton, Addison, and Farmers Branch, Texas.