The NCUA placed the $2.2 million Greensburg Community FCU into conservatorship yesterday.
During the fourth quarter of 2010 its assets declined 10.9% which followed a 2.3% decline in the third quarter and a 3.3% drop in the second quarter.
Its loan income fell in three f the last four quarters. It fell 5.4% in the fourth quarter of 2010.
Its net worth ratio was 20.4% at the end of December and its delinquent loan ratio was 9.02%. It has had a negative Return on Average Assets during three of the last quarters.
The credit union has 983 members. It is located I Greensburg, Pa., which is approximately 5 miles east of Pittsburgh.
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