Member Deposits Remain Protected to $250,000; Member Services Uninterrupted
ALEXANDRIA, Va. (June 23, 2017) – The National Credit Union Administration today placed Citizens Community Credit Union, located in Devils Lake, North Dakota, into conservatorship.
Member deposits at Citizens Community Credit Union remain protected by the National Credit Union Share Insurance Fund. Administered by NCUA, the Share Insurance Fund insures individual accounts at Citizens Community Credit Union up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund also separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.
Member services will continue uninterrupted at the credit union’s office located at 1117 Highway 2 E, Devils Lake, and at all branches. Members can continue to conduct normal financial transactions, deposit and access funds, make loan payments, and use shares. Citizens Community Credit Union’s main office is open Monday through Friday from 8:30 a.m. to 5 p.m. and Saturday from 9 a.m. to 12:30 p.m. For the location and hours of operation of the credit union’s branches, visit the Locations and Hours webpage.
Members with questions about Citizens Community’s operations may contact the credit union at 701-662-8118. Members with questions about the conservatorship may review the Citizens Community Credit Union Frequently Asked Questions posted on the NCUA website (opens new window). Members with questions about their Share Insurance Fund coverage can find more information on the Share Insurance Coverage (opens new window) section of NCUA’s MyCreditUnion.gov (opens new window) consumer website.
NCUA placed Citizens Community Credit Union into conservatorship because of unsafe and unsound practices at the credit union. While continuing normal member services, NCUA will work to resolve issues affecting the credit union’s operations.
Citizens Community Credit Union is a federally insured, state-chartered credit union with 11,399 members and assets of $201,255,973, according to the credit union’s most recent Call Report. Citizens Community Credit Union serves eligible members subject to the provisions of its bylaws, primarily encompassing the trade areas of Devils Lake, St. John, Bisbee, Ft. Totten, Lakota, Northwood, Larimore, and Grand Forks, North Dakota and East Grand Forks, Minnesota.