LMPD's credit union placed under federal oversight - WDRB 41 Louisville News

LMPD's credit union placed under federal oversight

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LOUISVILLE, Ky. (WDRB) -- The Louisville Metro Police Department's credit union has been placed under the oversight of a federal agency.

The National Credit Union Administration placed the Credit Union in conservatorship in order to resolve issues affecting the credit union's safety and soundness.

The move came soon after the FBI began investigating the credit union's operations after a theft at the downtown location earlier this month.

The NCUA will put experienced management in place to correct some operational weaknesses. It won't affect services at the main office on West Market Street or its branch location.

The credit union has more than 3,500 members serving law enforcement, their immediate family, and a few businesses.

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