Two New York Credit Unions Placed Into Conservatorship

On Friday, the NCUA placed $12 million Bethex FCU into conservatorship. The credit union will continue operations under new management and new operational  procedures. On the same day, the New York State Department of Financial Services placed $178 million Montauk CU in conservatorship. As conservator, the NCUA will work with the credit union to address operational issues while the credit union continues to serve its members. [9/21/15]