Thursday, April 20, 2017

Georgia's Community United FCU Conserved

The National Credit Union Administration (NCUA) placed Community United Federal Credit Union, in Waycross, Georgia, into conservatorship.

NCUA placed Community United Federal Credit Union into conservatorship to allow the credit union to correct operational weaknesses.

According to its year end data, the credit union was well-capitalized and profitable. The credit union reported that only 0.97 percent of its loans were delinquent.

Community United Federal Credit Union has 4,844 members and $23,161,861 in assets, according to the credit union’s most recent Call Report.

Read the press release.

2 comments:

  1. Louie Lavone Gill, CEO was arrested "for taking money and property from the Credit Union that he had no right to take and using his authority over the other employees to do illegal transactions within the credit union".

    ReplyDelete
  2. Teresa Ann Perkins, 58, admitted she embezzled money ($320,000)from several accounts while she was employeed at Community United Federal Credit Union in Waycross,GA between December 2015 and May 2017.

    ReplyDelete

 

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