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NCUA Takes Over Saguache County Credit Union

NCUA took over operations of Saguache County Credit Union of Moffat, Colorado. The Commissioner of the Colorado Division of Financial Services appointed NCUA as conservator for Saguache County Credit Union. The state placed the credit union into conservatorship due to a declining financial condition. While continuing normal member services. NCUA says they will work to resolve issues affecting the institution's safety and soundness. Deposits at Saguache County Credit Union remain insured up to $250,000 through the federal government.A Community Development Financial Institution, Saguache County Credit Union is a full service credit union that serves the residents of Saguache County, Colo. In its last Call Report, Saguache County Credit Union reported $17.7 million in assets and 3,165 members. Members can continue to conduct normal financial transactions at each of Saguache County Credit Union's three branch locations during the conservatorship.by Staff Writer
Published July 22, 2011
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