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2025 Credit Union Failure Season Begins: Butler Heritage Credit Union

How could Ron DeSantis do this?

Just kidding morons, it’s the result of four years of deregulatory, aka, arbitrary enforcement. And since “their boy” is no longer in charge, let’s start failing all kinds of financial institutions that should have been failed years ago. Right?

Here’s the poop from the National Credit Union Administration home page:

Butler Heritage Federal Credit Union Conserved

Accounts Remain Protected by Share Insurance Fund; Member Services Uninterrupted

ALEXANDRIA, Va. (Jan. 10, 2025) – The National Credit Union Administration today placed Butler Heritage Federal Credit Union in Middletown, Ohio, into conservatorship.

Member deposits at Butler Heritage Federal Credit Union remain protected by the National Credit Union Share Insurance Fund. Administered by the NCUA, the Share Insurance Fund insures individual accounts at Butler Heritage Federal Credit Union up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund also 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.

Member services will continue uninterrupted at the credit union’s main office at 660 N. University Blvd., Middletown, Ohio. Members can continue to conduct normal financial transactions, deposit and access funds, make loan payments, and use shares. The office is open Monday through Wednesday from 9 a.m. to 5 p.m., Thursday from 9 a.m. to 5:30 p.m., and Friday from 9 a.m. to 6 p.m. Eastern.

Members with questions about Butler Heritage Federal Credit Union’s operations may contact the credit union at 513.423.2921. Members with questions about the conservatorship may review the Butler Heritage Federal Credit Union frequently asked questions posted on the NCUA’s website. Members with questions about their Share Insurance Fund coverage can find more information in the Share Insurance Coverage (Opens new window) section of the NCUA’s MyCreditUnion.gov (Opens new window) consumer website.

The NCUA placed Butler Heritage Federal Credit Union into conservatorship because of unsafe and unsound practices at the credit union. While continuing normal member services, the NCUA will work to resolve issues affecting the credit union’s operations.

Butler Heritage Federal Credit Union is a federally insured, federally chartered credit union with 836 members and assets of $10,305,416 according to the credit union’s most recent Call Report. Butler Heritage Federal Credit Union serves people who live, work, worship, volunteer, or attend school in, and businesses and other legal entities located in, Butler County, Ohio.

I apologize for not catching this last Friday as I’ve been rather busy bailing water out of the lower decks of the Titanic in the industry I’m involved in. I am watching the FDIC page like a hawk however.

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