NCUA Takes Over Nebraska CU

February 21, 2006, 1:00 a.m. EST 1 Min Read

ALEXANDRIA, Va. - (02/21/06) -- NCUA announced Friday it taken overUnion Pacific Streamliner FCU and will run the $39 million creditunion with the goal of returning it to sound financial condition.The 69-year-old credit union, chartered to serve employees andfamily of Union Pacific railroad workers, reported strong capitalof 8% and low delinquency and charge-off ratios of 1% and 0.14%,respectively, at the end of the third quarter, but saw its netincome plunge from $194,000 in 2004 to a loss of $25,000 for thefirst three quarters of 2005.

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