The National Credit Union Administration (NCUA) has placed Butler Heritage Federal Credit Union, located in Middletown, Ohio, into conservatorship due to unsafe and unsound practices. Despite this development, member deposits remain secure under the National Credit Union Share Insurance Fund. This fund insures individual accounts up to $250,000 and provides similar coverage for joint accounts as well as IRA and KEOGH retirement accounts. The insurance is backed by the full faith and credit of the United States.
Operations at Butler Heritage Federal Credit Union will continue without interruption at its main office on 660 N. University Blvd., Middletown, Ohio. Members can perform usual financial transactions including deposits, accessing funds, making loan payments, and using shares during regular business hours.
For any inquiries related to the credit union’s operations or details about the conservatorship, members are encouraged to contact Butler Heritage directly at 513.423.2921 or visit the NCUA’s website for further information. Questions regarding Share Insurance Fund coverage can be addressed through resources available on MyCreditUnion.gov.
Butler Heritage Federal Credit Union serves a community within Butler County, Ohio and has 836 members with assets totaling $10,305,416 according to their latest Call Report.
The NCUA is an independent federal agency responsible for regulating federal credit unions in the U.S., managing the National Credit Union Share Insurance Fund which protects over 135 million account holders across federal and many state-chartered credit unions.
For media inquiries regarding this matter, contact Joe Adamoli at JAdamoli@ncua.gov or call 703.518.6572.
