NCUA Takes Over Two Small CUs
ALEXANDRIA, Va. – NCUA yesterday took under conservatorship two troubled credit unions, Valued Members FCU, a one-time $12 million Jackson, Miss., credit union, and Hmong American FCU, a $3 million credit union that served the Laotian immigrant community in St. Paul, Minn.
Valued Community serves Leake County, the underserved community of Madison County, and a number of employee groups in and around Jackson, and had net worth of less than 1%.
Hmong American currently has 716 members.
The two are the third and fourth credit unions taken over by NCUA over the past month, following conservatorships in April 15 of Texans CU and Vensure FCU.