diff --git a/src/coreclr/vm/loaderallocator.cpp b/src/coreclr/vm/loaderallocator.cpp
index 4f625e592e8d9..dad12b8aa781f 100644
--- a/src/coreclr/vm/loaderallocator.cpp
+++ b/src/coreclr/vm/loaderallocator.cpp
@@ -964,13 +964,11 @@ void LoaderAllocator::SetHandleValue(LOADERHANDLE handle, OBJECTREF value)
     {
         NOTHROW;
         GC_NOTRIGGER;
-        MODE_ANY;
+        MODE_COOPERATIVE;
         PRECONDITION(handle != NULL);
     }
     CONTRACTL_END;
 
-    GCX_COOP();
-
     GCPROTECT_BEGIN(value);
 
     // If the slot value does have the low bit set, then it is a simple pointer to the value
diff --git a/src/coreclr/vm/threadstatics.cpp b/src/coreclr/vm/threadstatics.cpp
index 74d2eb08a3dc8..aa9408a7791a6 100644
--- a/src/coreclr/vm/threadstatics.cpp
+++ b/src/coreclr/vm/threadstatics.cpp
@@ -52,13 +52,22 @@ void ThreadLocalBlock::FreeTLM(SIZE_T i, BOOL isThreadShuttingdown)
                         ThreadLocalModule::CollectibleDynamicEntry *entry = (ThreadLocalModule::CollectibleDynamicEntry*)pThreadLocalModule->m_pDynamicClassTable[k].m_pDynamicEntry;
                         PTR_LoaderAllocator pLoaderAllocator = entry->m_pLoaderAllocator;
 
-                        if (entry->m_hGCStatics != 0)
-                        {
-                            pLoaderAllocator->FreeHandle(entry->m_hGCStatics);
-                        }
-                        if (entry->m_hNonGCStatics != 0)
+                        // LoaderAllocator may be collected when the thread is shutting down.
+                        // We enter coop mode to ensure that we get a valid value of the exposed object and
+                        // can safely clean up handles if it is not yet collected.
+                        GCX_COOP();
+
+                        LOADERALLOCATORREF loaderAllocator = pLoaderAllocator->GetExposedObject();
+                        if (loaderAllocator != NULL)
                         {
-                            pLoaderAllocator->FreeHandle(entry->m_hNonGCStatics);
+                            if (entry->m_hGCStatics != 0)
+                            {
+                                pLoaderAllocator->FreeHandle(entry->m_hGCStatics);
+                            }
+                            if (entry->m_hNonGCStatics != 0)
+                            {
+                                pLoaderAllocator->FreeHandle(entry->m_hNonGCStatics);
+                            }
                         }
                     }
                     delete pThreadLocalModule->m_pDynamicClassTable[k].m_pDynamicEntry;