KANSAS CITY, Mo.― WeDevelopment FCU, which was placed into conservatorship by NCUA in July, has been merged into CommunityAmerica Federal Credit Union in Lenexa, Kan.
As the CU Daily reported here, WeDevelopment FCU posted a $254,876 for the first quarter, with capital at -7.29%. The credit union had approximately 1,000 members at the time it was taken over by NCUA. It had approximately $2.4-million in assets.
WeDevelopment FCU was chartered in 2022 to serve underserved communities within 57 census tracts in Jackson County, Missouri.
“The agency worked to address issues affecting the credit union’s safety and soundness,” NCUA said in a statement. “After analysis and stakeholder engagement, NCUA determined that merging WeDevelopment Federal Credit Union into CommunityAmerica Federal Credit Union was in the best interest of its members.”
The $9-billion CommunityAmerica FCU has approximately 600,000 members.
