CARROLLTON, Texas–NCUA said it has returned control of Valwood Park Federal Credit Union to its members and ended its conservatorship.  

The NCUA placed Valwood Park Federal Credit Union into conservatorship on January 20, 2023, because of unsafe and unsound practices at the credit union.

At the time it was placed into conservatorship VPFCU had seen its profitability and net worth plunge, and it reported a loss of nearly $2.5 million in the second quarter of 2023, after being profitable during 2022. In half-a-year’s time its net worth had also declined from more than 13% to approximately 5.2%.

Valwood Park FCU closed 2024 with $25.44-million in assets, 2,686 members, net income of $1.23 million and net worth of 10.8%.

‘Extraordinary Efforts’

“The recovery of Valwood Park reflects the extraordinary efforts of its leadership team, staff, and members,” NCUA Chairman Kyle S. Hauptman said in a statement.  “Working in collaboration with the NCUA, the new management team saved the credit union from failure by enhancing controls and mitigating risks. Valwood Park is now in a stronger position to provide vital financial services and enhance the financial well-being of residents in Dallas’s Metrocrest communities.”

The credit union was chartered in 1974 and serves the Texas communities of Carrollton, Addison, and Farmers Branch.