The NCUA placed the $106 million Shreveport Federal Credit Union into conservatorship Thursday to resolve its unspecified safety and soundness issues while the Louisiana cooperative remains open to serve its 22,235 members.
"(The) 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," the federal agency said in a prepared statement.
The NCUA did not specify the operational weaknesses it is correcting.
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