Gulfport CBC Credit Union is placed into
Conservatorship by the State of Mississippi Department of Banking
and Consumer Finance
Member Accounts are Safe and Insured up to $100,000 at Gulfport CBC Credit Union
January 24, 2006, Alexandria, Va. – The National Credit Union Administration (NCUA) today announced that the state chartered Gulfport CBC Credit Union of Gulfport, Mississippi has been placed into conservatorship by the State of Mississippi Department of Banking and Consumer Finance. The NCUA concurs with the State’s decision and will serve as the conservator until the situation is resolved.
Gulfport CBC Credit Union serves approximately 3100 members, and as of December 31, 2005, had assets of $17,400,000. Gulfport CBC Credit Union primarily serves both the civilian and military employees and families of the U.S. Navy’s Gulfport Construction Battalion Center.
Gulfport CBC Credit Union will remain operational during the conservatorship. Member funds continue to be insured up to $100,000 per account by the National Credit Union Share Insurance Fund (NCUSIF), which is administered by the NCUA.
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