New Hope Community Development Federal Credit Union in Birmingham, Alabama, a federally chartered and federally insured credit union had its operations taken over by the National Credit Union Administration on July 22, 2009
New Hope Community Development Federal Credit Union was originally chartered in 1996 and serves the West End community of Birmingham, Alabama. The credit union has approximately $1.3 million in assets and just over 900 members.
Service continues uninterrupted at New Hope Community Development Federal Credit Union and members are free to make deposits, access funds, make loan payments and use share drafts. While the credit union was placed into conservatorship because of declining financial condition, the decision to conserve a credit union enables the institution to continue normal operations with expert management in place.
Member accounts are insured to at least $250,000 coverage provided by the National Credit Union Share Insurance Fund, a federal fund backed by the full faith and credit of the U.S. Government. Members with questions about their insurance coverage can contact NCUA’s Share Insurance Call Center at 1-800-755-1030, Press 1, Monday through Friday during normal business hours.
