Closed Board Meeting September 24, 2010 | National Credit Union Administration

September 2010

Closed Board Meeting September 24, 2010

Board Action Bulletin

The NCUA Board unanimously approved placing Members United Corporate Federal Credit Union, Southwest Corporate Federal Credit Union and Constitution Corporate Federal Credit Union into conservatorship.

The NCUA Board considered four supervisory matters that remain confidential at this time.

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NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov (opens new window), NCUA also educates the public on consumer protection and financial literacy issues.

"Protecting credit unions and the consumers who own them through effective regulation"