ALEXANDRIA, Va. – NCUA said this afternoon it has taken over Trinity CU, a troubled $4 million credit union in Trinidad, Colo.
The Colorado Division of Financial Services placed Trinity, which has a $134,000 loss for 2011 and a $23,000 loss for the first quarter of 2012, into conservatorship and appointed NCUA as conservator. The state placed the credit union into conservatorship due to a declining financial condition. While continuing normal member services, NCUA will work to resolve issues affecting the institution’s safety and soundness.
The credit union was chartered in 1939 to serve the members of Holy Trinity Parish in Trinidad, Colorado, and the charter was expanded to serve all residents of Las Animas County.