The failure of a tiny and allegedly fraud-riddled Massachusetts credit union could cost the federal government millions in insurance payouts.

Berkshire Credit Union, Pittsfield, which had about $158,000 in assets, was shut down by Massachusetts regulators on March 22. So far, depositor claims against the National Credit Union Share Insurance Fund total $2.7 million.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.