The National Credit Union Administration has placed Butler Heritage Federal Credit Union in Middletown, Ohio, into conservatorship, citing unsafe and unsound practices. The NCUA stated that member services will continue uninterrupted and that deposits remain protected by the National Credit Union Share Insurance Fund. The Share Insurance Fund insures individual accounts up to USD 250,000, a member’s combined interest in all joint accounts up to USD 250,000, and separately covers IRA and KEOGH retirement accounts up to USD 250,000, backed by the full faith and credit of the United States. The NCUA said it will work to resolve issues affecting the credit union’s operations while maintaining normal transactions and access to funds. Butler Heritage Federal Credit Union is a federally insured, federally chartered institution with 836 members and USD 10,305,416 in assets, according to its most recent Call Report.
National Credit Union Administration 2025-01-10
National Credit Union Administration places Butler Heritage Federal Credit Union into conservatorship over unsafe and unsound practices
The National Credit Union Administration has placed Butler Heritage Federal Credit Union into conservatorship due to unsafe and unsound practices. Member services will continue uninterrupted, with deposits insured by the National Credit Union Share Insurance Fund up to USD 250,000 per account type. The NCUA aims to resolve operational issues while maintaining normal transactions and access to funds.