Friday, July 27, 2012

Trinity CU Placed into Conservatorship

The National Credit Union Administration (NCUA) assumed control of Trinity Credit Union, a state-chartered, federally insured credit union headquartered in Trinidad, Colo.

The Colorado Division of Financial Services placed Trinity Credit Union into conservatorship due to its declining financial condition.

As of March 2012, the credit union reported a delinquency ratio of 6.79 percent. In addition, the credit union reported a loss of $23,141 in the first quarter for 2012, after posting a loss of $134,278 for all of 2011.

The credit union had a net worth ratio of 10.87 percent as of March 2012 -- down from 15.36 percent a year earlier.

Trinity Credit Union serves the residents of Colorado’s Las Animas County. The credit union reported approximately $4 million in assets in its last Call Report.

Read the press release.

No comments:

Post a Comment

 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.