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Louisville Metro Police Officers CU placed into conservatorship

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Louisville Metro Police Officers CU placed into conservatorship

The National Credit Union Administration placed Louisville Metro Police Officers CU into conservatorship, the regulator said Dec. 15.

The Louisville, Ky.-based credit union was conserved to correct operational weaknesses and resolve safety and soundness issues, the NCUA said.

As of Sept. 30, the credit union had $28.8 million in assets, loans and leases of $17.3 million, and shares and deposits of $25.1 million, according to SNL data. Its total delinquent loans were 8.64% of capital and 1.75% of total loans.

SNL is owned by S&P Global Market Intelligence.