DERBY LINE - Federal and state officials have seized the inventory, assets and accounts of a credit union operated out of a home in Derby Line.Investigators remain tight-lipped on why they seized Border Lodge Credit Union and how they discovered a problem. However, the Credit Union Times (CU Times), an industry publication, reports that the entity was experiencing higher delinquencies recently as well as decreasing protective measures on loan losses.Friday, Steve Kimbell, Commissioner of the Vermont Department of Financial Regulation, working with U.S. Attorney Tristram Coffin, the Federal Bureau of Investigation and federal authorities from the National Credit Union Administration (NCUA), took possession and closed the state-chartered credit union, located at 138 Beauchesne Street. “Our examiners discovered issues that raised serious concerns. I determined that exercising my authority to take over the credit union was the best way to protect depositors and the assets of the credit union,” Kimbell said in a prepared statement. The commissioner’s order also placed the Border Lodge Credit Union into liquidation and appointed the NCUA’s Board as liquidating agent. It is the eleventh federally-insured credit union liquidation in 2012.The credit union has 1,097 members with assets listed at $3.1 million, according to the credit union’s most recent Call Report. Border Lodge served people of certain occupations within Orleans County and their immediate family members. It was chartered in 1963.Debra Kinney is the CEO and President of the credit union. She did not return a phone call to her home by press time Sunday.According to the CU Times, the Border Lodge reported a net profit of nearly $62,000 as a September 30. However delinquencies jumped from 1.61 percent at March 31 to 2.69 percent by September 30. During that time, provision for loan losses (an expense for banks to account for defaults) fell from 0.85 % to 0.37 %Commissioner Kimbell says account holders’ deposits are insured by the NCUA up to $250,000. “Steps have been taken to ensure the credit union’s customers will be protected,” he said. Members with questions about their insurance coverage may contact NCUA’s Consumer Assistance Center toll free at 800-755-1030. The center answers calls Monday through Friday between 8 a.m. and 5 p.m. Individuals may also visit the website at any time for more information about their insurance coverage.