The agency said that it was assuming control of the credit union due to unsafe and unsound practices at the institution. The credit union will continue to serve its members while the NCUA works to resolve the issues, agency officials said.
Member deposits at Valwood Park Federal Credit Union will also remain protected by the NCUA.
More About the Credit Union
Valwood Park FCU is a federally insured, federally chartered community credit union; it has 2,833 members and assets of more than $28 million, according to its latest call report. The credit union serves the cities of Carrollton, Farmers Branch, and Addison in Texas.