Edinburg Teachers Credit Union Placed Under Conservatorship


A teacher’s credit union in Edinburg has been taken over by the National Credit Union Administration, though no one is saying why the move was necessary.

A commissioner for the Texas Credit Union Department says the Edinburg Teachers Credit Union was placed in conservatorship last month to protect shareholders. He also tells The Monitor that the move will help get the credit union back into compliance with state and federal laws so it can be returned to oversight by its members.

Officials with the TCUD and the NCUA have not said why the credit union was put into conservatorship or how long the situation could last.

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