Friday, February 23, 2018

Ukrainian Future CU Placed into Conservatorship

The Director of the Michigan Department of Insurance and Financial Services placed Ukrainian Future Credit Union, of Warren, Michigan, into conservatorship and appointed the National Credit Union Administration as conservator.

The Michigan Department of Insurance and Financial Services placed Ukrainian Future Credit Union into conservatorship because of unsafe and unsound practices at the credit union.

Ukrainian Future Credit Union is a federally insured, state-chartered credit union with 5,692 members and assets of $84.6 million, according to the credit union’s most recent Call Report.

Read the NCUA press release.

Read the Michigan Department of Insurance and Financial Services press release.
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