Closed Board Meeting - May 17, 2013 | National Credit Union Administration

May 2013

Closed Board Meeting - May 17, 2013

Board Action Bulletin

The NCUA Board unanimously approved placing First Kingdom Community Federal Credit Union into conservatorship.

The NCUA Board considered a supervisory matter that remains confidential at this time.

The NCUA Board considered an appeal under Section 701.14 and Part 747, Subpart J of NCUA’s Rules and Regulations that remains confidential at this time.

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The 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, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.