New York credit union conserved

The NCUA has announced the New York State Department of Financial Services has taken possession of Municipal Credit Union, located in New York City, and appointed the National Credit Union Administration as conservator. Member services will continue uninterrupted at all of the credit union’s 22 branch locations in the New York metropolitan area. Members can continue to conduct normal financial transactions, deposit and access funds, make loan payments, and use shares during the conservatorship.

Municipal Credit Union has 588,059 members and assets of more than $3 billion, according to its most recent Call Report. It serves persons working for the city of New York, along with other approved groups and associations.