NCUA Takes Over Tiny Pennsylvania CU

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GREENSBURG, Penn. – NCUA said yesterday it has taken under conservatorship Greensburg Community FCU, a troubled one-time $3 million credit union here.

The credit union, which serves just 983 members within a radius of three miles of the U.S. Post Office in Greensburg, Penn., lost $9,000 in 2010 and $3,000 in 2009, as its assets declined to just $2.1 million.

Members can conduct normal financial transactions – deposit and access funds, make loan payments and use share drafts under the NCUA conservatorship.

 

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