The National Credit Union Administration has placed the BCT Federal Credit Union in Binghamton in conservatorship.
The institution serves primarily the educational community of New York’s Southern Tier and one county in Pennsylvania.
BCT has $52 million in assets.
No specific reason for the seizure was announced. BCT is the sixth credit union seized this year.
BCT will continue normal operations while the agency works to resolve issues affecting BCT FCU’s safety and soundness, the NCUA said.
Members’ assets are protected up to $250,000.
BCT has 3,911 members.
The credit union has locations in Binghamton, Endicott, and Montrose, Pa.
