• Vt. regulator closes Derby credit union
    December 01,2012
    • Email Article
    •  Print Article
    DERBY LINE — The Vermont Department of Financial Regulation has closed a Derby Line-based credit union and appointed the National Credit Union Administration to oversee its liquidation.

    In a statement issued Friday, the Vermont’s top financial regulator, Stephen Kimbell, said the seizure was done in cooperation with federal authorities and came after “examiners discovered issues that raised serious concerns.”

    He did not say what those concerns were.

    He said the credit union’s customers will be protected.

    The Border Lodge Credit Union was first chartered in 1963. A recent report said it had 1,097 members and assets of approximately $3.1 million.

    Accounts at the credit union are insured by the federal government for up to $250,000.
    • Email Article
    •  Print Article
    MORE IN This Just In

    Federal agents

    arrest residents

    Two Rutland residents pleaded innocent in... Full Story

    KILLINGTON — Killington Resort says it will be hosting a women’s World Cup giant... Full Story

    BARRE — A Granite City roofer with a lengthy criminal history has been sentenced to up ... Full Story

    More Articles