The Superintendent of the Ohio Division of Financial Institutions named the NCUA conservator of the Cleveland-based Cory Methodist Church Credit Union Thursday.
The Superintendent placed Cory Methodist Church CU into conservatorship because of unsafe and unsound practices at the credit union. While continuing to provide usual member services, the NCUA said it will work to resolve issues affecting the credit union's operations.
Cory Methodist Church CU is a federally insured, state chartered credit union with a low-income designation. It has 710 members and assets of $1.6 million, according to the credit union's most recent Call Report. Chartered in 1958, Cory Methodist Church CU serves specific geographic boundaries in Glenville and Mt. Pleasant, Ohio, including multiple churches and select employee groups.
Deposits at Cory Methodist Church CU remain protected by the National Credit Union Share Insurance Fund. Administered by the 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.
Members can conduct normal financial transactions at the $31 million Steel Valley Federal Credit Union, located at 3840 Pearl Road in Cleveland. Steel Valley is open for business Monday, Tuesday and Thursday from 9 a.m. to 4 p.m. and Wednesday from noon to 4 p.m. Friday hours are from 10 a.m. to 6 p.m. and Saturday hours are from 9 a.m. to 12:30 p.m. Members may also call Steel Valley at 216-741-9430.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
