Member Deposits Insured up to $250,000; Member Services Uninterrupted
ALEXANDRIA, Va. (April 13, 2017) – The National Credit Union Administration today placed Shreveport Federal Credit Union, in Shreveport, Louisiana, into conservatorship.
Member deposits at Shreveport Federal Credit Union 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 all Shreveport Federal Credit Union offices, which will keep their current office hours. The credit union’s offices are scheduled to be closed Friday, April 14, in observance of Good Friday. Members with questions may contact the credit union at 318-798-4061 from 8:30 a.m. to 5 p.m. Monday through Friday and 10 a.m. to 1 p.m. Saturday.
Members who have questions about the conservatorship may review the Shreveport Federal Credit Union 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 Shreveport Federal Credit Union into conservatorship to enable the credit union to continue regular operations with experienced management in place and to work 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 1956, Shreveport Federal Credit Union serves members in Shreveport; in Coahoma, Quitman, Panola, and Bolivar Counties of Mississippi; and employees of Northwest Mississippi Regional Medical Center in Clarksdale. Shreveport Federal Credit Union has 22,235 members and $106,738,494 in assets, according to the credit union’s most recent Call Report.