The National Credit Union Administration has placed Beverly Hills City Employees Federal Credit Union in Beverly Hills, California, into conservatorship, citing unsafe and unsound practices. Member services will continue while the NCUA works to resolve issues affecting the credit union’s operations. Deposits remain protected by the National Credit Union Share Insurance Fund, administered by the NCUA and backed by the full faith and credit of the United States. Coverage includes up to USD 250,000 per individual account, up to USD 250,000 for a member’s combined interest in joint accounts, and separate protection of IRA and KEOGH retirement accounts up to USD 250,000. The credit union is federally insured and federally chartered, with 1,542 members and reported assets of USD 16.5 million, and serves employees of the City of Beverly Hills.
National Credit Union Administration 2026-01-22
National Credit Union Administration places Beverly Hills City Employees Federal Credit Union into conservatorship over unsafe and unsound practices
The National Credit Union Administration placed Beverly Hills City Employees Federal Credit Union into conservatorship due to unsafe practices, ensuring member services continue and deposits remain protected by the National Credit Union Share Insurance Fund. Coverage includes up to 250,000 USD per individual account, joint accounts, and separate protection for IRA and KEOGH accounts, with the credit union serving 1,542 members and holding assets of 16.5 million USD.