Wednesday, September 23, 2015

Keys FCU Emerges from Conservatorship

The National Credit Union Administration (NCUA) announced that Keys Federal Credit Union, of Key West, Florida, is once again under the control of its members.

Keys was placed into conservatorship by NCUA six years ago in September 2009.

Keys FCU reported profits of $1.2 million for 2014 and $829 thousand for the first six months of 2015. As a result, Keys' net worth ratio has grown to 5.75 percent from 4.07 percent over the last six quarters.

Keys is the first credit union since 2013 to emerge from NCUA conservatorship.

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