Thursday, April 13, 2017

Shreveport FCU Placed into Conservatorship

The National Credit Union Administration on April 13th placed Shreveport Federal Credit Union, in Shreveport, Louisiana, into conservatorship.

NCUA placed Shreveport Federal Credit Union into conservatorship to correct operational weaknesses.

The credit union's Call report indicated that the credit union was profitable and well-capitalized. The credit union reported that 1.97 percent of its loans were 60 days or more past due, which is higher than the delinquency rate for its peer group.

This would suggest that issues at the credit union may have been identified during a recent examination.

According to its most recent Call Report, the credit union had $106.7 million in assets.

Read the press release.

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