Yonkers Postal Employees Credit Union get put under state control
The Yonkers Postal Employees Credit Union, serving nearly 500 current and retired Hudson Valley USPS workers, is now under state control.
The Department of Financial Services has taken possession of the credit union and appointed the National Credit Union Administration as conservator.
The DFS cited declining conditions since 2018 under current management and failure to comply with DFS orders.
Member accounts at the credit union are fully insured up to $250,000 under federal law.