Saturday, January 25, 2014

Parsons Pittsburg CU Conserved

The Administrator of the Kansas Department of Credit Unions placed Parsons Pittsburg Credit Union (Parsons, Kansas) into conservatorship and named the National Credit Union Administration as agent to handle the credit union’s day-to-day operations.

The Kansas Department of Credit Unions placed Parsons Pittsburg into conservatorship because of the recent discovery of unsafe and unsound practices.

Parsons Pittsburg Credit Union has 1,470 members and assets of $13.5 million, according to the credit union’s Sept. 30, 2013, Call Report.

Read the NCUA press release.
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