Thursday, June 11, 2020

Southern Pine CU Conserved

The National Credit Union Administration (NCUA) placed Southern Pine Credit Union (Valdosta, GA) in conservatorship on June 11.

The decision to place Southern Pine Credit Union into conservatorship was due to unsafe and unsound practices at the credit union.

The credit union had approximately $46.4 million in assets.

The action to conserve the credit union was taken in consultation with the Georgia Department of Banking and Finance.

Read the press release.



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