Riverdale Credit Union Conservatorship

The alabama credit union administration and ncua placed riverdale into conservatorship because of unsafe and unsound practices at the credit union. When riverdale was placed into a conservatorship by the ncua in june the credit union s first quarter call report listed 12 433 members and more than 76 million in assets. Ncua stated that the alabama credit union administration and ncua placed riverdale into conservatorship because of unsafe and unsound practices at the credit union.

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Riverdale credit union of selma ala has been placed into conservatorship by both the alabama credit union administration and the national credit union administration.

Riverdale credit union conservatorship. To 4 30 p m monday through friday. The report also showed a total of 7 178 loans. Riverdale cu with about 76 million in assets and more than 12 400 members was placed into conservatorship because of unsafe and unsound practices at the credit union the agencies said. Members with questions may contact the credit union at 334 872 9096 from 9 a m.

In conservatorship the agencies priority is to protect the assets of the members of. Conservatorship of riverdale credit union charter no. Members with questions may contact the credit union at 334 872 9096 from 9 a m. The alabama credit union administration as conservator for riverdale credit union and on behalf of the former board of directors and officials 198 highland avenue selma alabama 36701.

The alabama credit union administration today placed riverdale credit union in selma into conservatorship and appointed the national credit union administration as agent for the conservator. To 4 30 p m monday through friday. Failed credit unions the ncua has closed 2. Ncua subsequently conserved the credit union.

17 0069 r3 order of conservatorship to. Riverdale credit union in selma has been taken into conservatorship due to unsafe and unsound practices at the credit union according to national credit union administration ncua. The alabama credit union administration and ncua placed riverdale into conservatorship because of unsafe and unsound practices at the credit union. 6 riverdale credit union selma alabama national credit union association placed the credit union into conservatorship.

The alabama credit union administration placed riverdale credit union in selma into conservatorship on june 22 2017 and appointed the national credit union administration as agent for the conservator. The ncua and alabama credit union administration have assumed control of riverdale credit union since thursday. 62843 ncua docket no. While continuing normal member services the agencies will work to resolve issues affecting the credit union s safety and soundness ncua said.

Operations will continue under ncua supervision. As of the most recent call report riverdale credit union had approximately 76 2 million in total assets and 12 433 members.