These pages have been relatively quiet the last two months regarding credit union and bank failures but it’s now showtime. As I have been saying on MacroEdge Radio via X and on social media, as long as the government was shutdown, there would be no credit union or bank failures as those examiners were put on leave.
For now, that party is over.
From the NCUA (National Credit Union Administration) website:
Copper & Glass Federal Credit Union Conserved
Accounts Remain Protected by Share Insurance Fund; Member Services Uninterrupted
ALEXANDRIA, VA (November 18, 2025) – The National Credit Union Administration today placed Copper & Glass Federal Credit Union in Glassport, Pennsylvania, into conservatorship. Member services will continue while the NCUA works to resolve issues affecting the credit union’s operations.
Member deposits at Copper & Glass 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 Copper & Glass 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 531 Monongahela Avenue, Glassport, Pennsylvania. Members can continue to conduct normal financial transactions, deposit and access funds, make loan payments, and use shares. The office is open Monday through Thursday, 9:30 a.m. to 4:00 p.m. and Friday, 9:30 a.m. to 5:30 p.m. Eastern.
Members with questions about Copper & Glass FCU’s operations may contact the credit union at 412.673.9028. Members with questions about the conservatorship may review the Copper & Glass 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 NCUA’s consumer website, MyCreditUnion.gov (Opens new window) .
The NCUA placed Copper & Glass 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.
Copper & Glass Federal Credit Union is a federally insured credit union with 1,255 members and assets of approximately $7.1 million according to the credit union’s most recent Call Report. Glass & Copper Federal Credit Union serves multiple occupational and associational groups and people who live, work, worship, or attend school in Allegheny County, Pennsylvania. The credit union also serves businesses and other legal entities in the defined underserved portion of Allegheny County, Pennsylvania.
While this is a small fish, there are numerous mergers and acquisitions underway in this industry as the great financial consolidation begins before the crash. Those institutions that successfully merge or are acquired have a chance to survive which is good, because it means the depositors have a shot of keeping all of their money.
For now.