Huron River Area Credit Union Placed in Conservatorship

According to a letter from the Michigan Office of Financial and Insurance Services posted on this credit union's website, Huron River Area Credit Union has been placed in Conservatorship. The letter states that the credit union "will remain operational and member service will continue uninterrupted. Credit union members are free to make deposits, access funds, make loan payments and use share drafts." This credit union is insured by the National Credit Union Administration(NCUA), a federal agency. You can read more about the NCUA here.

Thanks goes to the reader who left a comment about this important development on the Hot Tips post.