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NCUA places Chicago-based Beverly Bus Garage FCU into conservatorship

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NCUA places Chicago-based Beverly Bus Garage FCU into conservatorship

The National Credit Union Administration on March 14 placed Beverly Bus Garage FCU into conservatorship because of "unsafe and unsound practices" at the Chicago-based credit union, according to a press release from the regulator.

While continuing normal member services, the NCUA will work to resolve issues affecting the operations of the credit union, which had assets of $4.0 million as of the end of 2017.