Member Deposits Insured up to $250,000; Member Services Uninterrupted
ALEXANDRIA, Va. (April 20, 2017) – The National Credit Union Administration today placed Community United Federal Credit Union, in Waycross, Georgia, into conservatorship.
Member deposits at Community United remain federally insured by the National Credit Union Share Insurance Fund. Administered by NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund 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 Community United Federal Credit Union’s office, which will keep its current office hours. Members with questions may contact the credit union at 912-285-5150 from 8:30 a.m. to 4:30 p.m., Mondays, Tuesdays, and Thursdays; 8:30 a.m. to 3:30 p.m. Wednesdays; and 8:30 a.m. to 5:30 p.m. Fridays.
Members who have questions about the conservatorship may review the Community United Federal Credit Union’s Frequently Asked Questions document available online here. Members with questions about their Share Insurance Fund coverage can find more information on NCUA’s MyCreditUnion.gov (opens new window) consumer website.
NCUA placed Community United Federal Credit Union into conservatorship to allow the credit union to continue regular operations with experienced management in place and to correct operational weaknesses. While continuing normal member services, NCUA will work to resolve issues affecting the credit union’s safety and soundness.
Chartered in 1966, Community United Federal Credit Union serves members and businesses in Ware County, Georgia. Community United Federal Credit Union has 4,844 members and $23,161,861 in assets, according to the credit union’s most recent Call Report.