GLASSPORT, Penn.– In a rare Tuesday announcement, NCUA has placed the $7.1-million Copper & Glass FCU into conservatorship. Member services will continue while it works to resolve issues affecting the credit union’s operations, the agency said.
NCUA said it placed Copper & Glass FCU into conservatorship due to unsafe and unsound practices.
Copper & Glass FCU posted $21,303 in net income through Q3, with net worth of 10.42%. it posted a $59,798 loss at year-end 2024, when net worth was 10.79%.
NCUA said services for the credit union’s 1,255 members will continue uninterrupted at its office at 531 Monongahela Avenue 9in Glassport.
About the Credit Union
The credit union was founded in 1938 as Copperweld Federal Credit Union to serve employees of Copperweld Steel Company. The name was officially changed to Copper & Glass on Feb. 1, 1998. It now serves multiple occupational and associational groups and people who live, work, worship, or attend school in Allegheny County, Pennsylvania, as well as businesses and other legal entities in the defined underserved portion of Allegheny County.
