Friday, June 10, 2011

BCT FCU Placed Into Conservatorship

The National Credit Union Administration (NCUA) assumed control of service and operations at BCT Federal Credit Union of Binghamton, N.Y.

BCT FCU has almost $52 million in assets, at the time of its conservatorship.

It is unclear why NCUA assumed control of this credit union. According to its most recent financial filings, the credit union was well capitalized with a net worth ratio of 12.23 percent. The credit union was profitable and delinquencies seemed very manageable.

Read the press release.
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