Friday, February 18, 2011

Greensburg Community FCU Placed into Conservatorship

The National Credit Union Administration assumed control of operations at Greensburg Community Federal Credit Union of Greensburg, Pennsylvania.

Greensburg Community Federal Credit Union has assets of $2.2 million, providing financial services to persons who live, work, worship, or go to school in, and business and other legal entities within a radius of three miles of the U.S. Post Office in Greensburg, Pennsylvania.

As of the end of 2010, the credit union reported that 9.02 percent of its $86,803 in loans were at least 60 days or more past due and it had $68,228 in allowances for loan and lease losses. The credit union also reported a net worth ratio of 30.41 percent.

Read press release.
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