The NCUA Board placed Beverly Bus Garage Federal Credit Union into conservatorship.
The NCUA Board also considered a Board appeal, which remains confidential at this time.
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"