What is a conservatorship?
A conservatorship is an authorized action under the Federal Credit Union Act where the NCUA Board is appointed to take possession and control of an insured credit union to conserve the credit union’s assets, protect the National Credit Union Share Insurance Fund, and resolve operational problems that could affect the credit union’s safety and soundness. During a conservatorship, the credit union remains open, members may transact business, and accounts remain protected by the Share Insurance Fund.Close and return to top
Is my money safe and secure?
Yes, member accounts at Pomona Postal Federal Credit Union remain safe and fully insured up to the maximums established in federal law.
Administered by the National Credit Union Administration, the National Credit Union Share Insurance Fund insures member accounts owned by an individual for 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.
The NCUA’s online Share Insurance Estimator (opens new window) allows credit union members to estimate their share insurance coverage. Once you provide the required data, the Share Insurance Estimator produces a report with a detailed explanation of insurance coverage.
Members with additional questions about their insurance coverage may contact the National Credit Union Administration’s Consumer Assistance Center toll free at 800.755.1030. The center answers calls Monday through Friday between 8 a.m. and 5 p.m. Eastern.Close and return to top
What is the current status of Pomona Postal Federal Credit Union?
The National Credit Union Administration placed Pomona Postal Federal Credit Union into conservatorship on November 5, 2021.
In conservatorship, NCUA’s priority is to protect the assets of the members of Pomona Postal Federal Credit Union while working to maintain safe-and-sound credit union operations.Close and return to top
What is the National Credit Union Administration?
The NCUA is an independent agency of the federal government that, among other things, operates and manages the Share Insurance Fund, which insures accounts at all federally insured credit unions, including Pomona Postal Federal Credit Union.Close and return to top
Can I still conduct business at Pomona Postal Federal Credit Union?
Yes. NCUA will operate Pomona Postal Federal Credit Union during the conservatorship. Pomona Postal Federal Credit Union members will have continued access to their funds and member services.
Members may contact Pomona Postal by telephone at 909.629.3415 or in person at the credit union’s office located at 437 West Center Street, Pomona, CA 91768. The location is open Monday through Friday from 8:30 a.m. to 4:30 p.m. Pacific.Close and return to top
What are NCUA’s plans for operations at Pomona Postal Federal Credit Union?
Through a conservatorship, NCUA seeks to resolve operating issues at the credit union with a goal of protecting member assets and seeking a resolution to identified problems.Close and return to top
How long will this conservatorship last?
In working to resolve the issues affecting Pomona Postal Federal Credit Union, NCUA’s top priority is to protect the interests of the credit union’s members. NCUA has no set timeframe for completing this resolution process.Close and return to top
How many members and branches are affected by the conservatorship?
Pomona Postal Federal Credit Union has one main office; service to all the credit union’s 717 members continues.Close and return to top
How big is Pomona Postal Federal Credit Union?
The credit union has approximately $4.2 million in assets as of its most recent Call Report.Close and return to top
What are NCUA’s plans for the future of Pomona Postal Federal Credit Union?
NCUA has made no decisions about the long-term future of the credit union. Continued credit union service for the members is a priority.Close and return to top