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IMPORTANT NOTICE TO LOUISVILLE METRO POLICE OFFICERS CREDIT UNION MEMBERS


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NATIONAL CREDIT UNION ADMINISTRATION REGION III

 

December 15, 2017


TO THE MEMBERS OF LOUISVILLE METRO POLICE OFFICERS CREDIT UNION:


On December 15, 2017, the National Credit Union Administration, in cooperation with the Kentucky Department of Financial Institutions, placed your credit union into conservatorship.


A conservatorship means the NCUA has assumed control over the credit union. The credit union remains open; your accounts remain insured; and member services will continue without interruption. NCUA will make protecting your accounts a priority as we work to correct problems at the credit union.


The National Credit Union Administration is the independent federal agency that regulates, charters, and supervises federal credit unions. The NCUA also operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 110 million account holders in all federal credit unions and the majority of state-chartered credit unions.


The Share Insurance Fund insures individual accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.


“Your Insured Funds” brochures are available at the credit union, and they explain in detail the Share Insurance Fund and the federal insurance coverage of your accounts. You can also find information on the Share Insurance Coverage page on NCUA’s website. That page includes an estimator to help you determine the amount of coverage you have.
The credit union will remain open for business Monday, Tuesday, and Thursday 8:30 a.m. to 3:30 p.m.; Wednesday from 9 a.m. to 1 p.m.; and Friday from 8 a.m. to 5 p.m. at its main office located at 900 West Market Street, Louisville, Kentucky. The branch office located at 7201 Outer loop #128, Louisville, Kentucky is open for business Monday, Tuesday, and Wednesday 9 a.m. to 4 p.m.; Thursday 9 a.m. to 2 p.m.; and Friday 9 a.m. to 5 p.m.


All savings and loan products and other services to which you are accustomed will continue uninterrupted. The conservator will ensure you continue to have the credit union services available to you and will notify you promptly of any further developments that affect your credit union.
If you have any questions, you can go online to a list of frequently asked questions about conservatorship or contact the credit union at 502-584-7134.


Sincerely,
/s/
Myra M. Toeppe
Agent for the Conservator


7000 Central Parkway – Suite 1600 – Atlanta, GA 30328 – Office: 678-443-3000 – Fax: 678-443-3020

Louisville Metro Police Officers Credit Union

Frequently Asked Questions


Is my money safe and secure?


Yes, member accounts at Louisville Metro Police Officers Credit Union remain safe and fully insured up to the maximums established in federal law.
Administered by the National Credit Union Administration, the National Credit Union Share Insurance Fund insures individual member accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.


The NCUA’s online Share Insurance Estimator allows credit union members to estimate their share insurance coverage. Once a member submits the required data, the Share Insurance Estimator produces a report with detailed explanations of insurance coverage.


Members with additional questions about their insurance coverage may contact the National Credit Union Administration’s Consumer Assistance Center toll-free at 800-755-1030. The Center answers calls Monday through Friday between 8 a.m. and 5 p.m. Eastern. Individuals may also visit the MyCreditUnion.gov website and the Share Insurance Coverage webpage at any time for more information about insurance coverage.


What is the current status of Louisville Metro Police Officers Credit Union?


The NCUA placed Louisville Metro Police Officers Credit Union, in Louisville, Kentucky, into conservatorship on December 15, 2017. In a conservatorship, the agency’s priority is to protect the assets of the members of Louisville Metro Police Officers Credit Union while working to maintain safe-and-sound credit union operations.


What is the National Credit Union Administration?


The NCUA is an independent agency of the federal government that, among other things, operates and manages the Share Insurance Fund, which insures accounts at all federally insured credit unions, including Louisville Metro Police Officers Credit Union.


What is a conservatorship?


A conservatorship means the NCUA has assumed control of the credit union in order to ensure its financial stability and safe-and-sound operation. In a conservatorship, the NCUA works to address issues related to a credit union’s operations and financial condition while maintaining member services.


Can I still conduct business at Louisville Metro Police Officers Credit Union?


Yes. Member services will continue uninterrupted at the credit union’s office, which will keep their current office hours. Members with questions may contact the credit union at 502-584-7134 or in person at the credit union’s office located at 900 West Market Street, Suite 100, Louisville, Kentucky. Louisville Metro Police Officers Credit Union’s offices are open:

Main Office

Monday: 8:30 a.m. to 3:30 p.m.

Tuesday: 8:30 a.m. to 3:30 p.m.

Wednesday: 8:30 a.m. to 1:00 p.m.

Thursday: 8:30 a.m. to 3:30 p.m.

Friday: 8 a.m. to 5 p.m.

Branch Office

Monday: 9 a.m. to 4 p.m.

Tuesday: 9 a.m. to 4 p.m.

Wednesday: 9 a.m. to 4 p.m.

Thursday: 9 a.m. to 2 p.m.

Friday: 9 a.m. to 5 p.m.



What are the NCUA’s plans for operations at Louisville Metro Police Officers Credit Union?


Through a conservatorship, the agencies seek to resolve operating issues at a credit union with a goal of protecting member assets and seeking a resolution to identified problems.


How many members and branches are affected by the conservatorship?


Louisville Metro Police Officers Credit Union serves 3,564 members, according to its most recent Call Report. Service continues uninterrupted at the credit union’s offices.


What is the field of membership for Louisville Metro Police Officers Credit Union?


The credit union serves members and businesses in the Louisville, Kentucky, area.


How big is Louisville Metro Police Officers Credit Union?


The credit union has $28,759,623 in assets, according to its most recent Call Report.


How long will this conservatorship last?


In working to resolve the issues affecting Louisville Metro Police Officers Credit Union, the NCUA’s top priority is to protect the interests of the credit union’s members. There is no set timeframe for completing this resolution process.


What are the NCUA’s plans for the future of Louisville Metro Police Officers Credit Union?


The NCUA has made no decisions about the long-term future of the credit union. Continued credit union service for the members, however, is a priority.

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CONTACT US

Main Branch

Downtown

900 West Market Street, Louisville KY 40202

Open Monday, Tuesday, Thursday 8:30 am to 3:30 pm

Wednesday 9:00 am to 1:00 pm

Friday 8:00 am to 5:00 pm

Phone 502-584-7134

South Branch

South Central Government Center

7201 Outerloop #128, Louisville KY 40228

Open Monday, Tuesday, Wednesday 9:00 am to 4:00 pm

Thursday 9:00 am to 2:00 pm

Friday 9:00 am to 5:00 pm

Phone 502-231-2700