The move means that the bank’s board and management are out.
Citizens Community Credit Union on Hwy. 2 in Devils Lake has been taken over by the National Credit Union Administration due to “unsafe and unsound practices.”
The move means that the bank’s board and management are out. Specifics about what unsafe and/or unsound practices took place at the credit union have not yet been released, but John Fairbanks of the NCUA says that the bank is not closed and that customers may conduct business as usual.
More on this story in tomorrow’s Journal.