NCUA conserves 1st Choice Credit Union of Atlanta
Deposits insured, branches to stay open, NCUA says
The National Credit Union Administration placed 1st Choice Credit Union of Atlanta into conservatorship on Friday. The action was taken in consultation with the Georgia Department of Banking and Finance.
The credit union is a federally insured, state-chartered credit union; it has 6,709 members and assets of $38.6 million, according to its latest call report.
Member deposits at 1st Choice remain protected by the NCUA’s Share Insurance Fund and member services will continue at both of the credit union’s branches in Atlanta.
“The NCUA has made no decisions about the long-term future of the credit union; however, continued service to members is a priority,” agency officials said.
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