KENOSHA, Wis. — NCUA and state credit union regulators took over A M Community CU, a troubled one-time $135 million credit union that serves Chrysler workers and the surrounding community, after the close of business Friday evening.
A M, which serves any Chrysler employee and Kenosha and Racine counties, reported an $8.2 million loss for 2011 and net worth of just 3%.
Under an NCUA conservatorship regulators will manage the now — $125 million credit union and try to restore it to health.
A M is the second credit union conservatorship of 2012.
