September 17, 2008 – 10:51 am
Interfaith Federal Credit Union in East Orange, N.J. became the 10th federally insured credit union to close in 2008 when the NCUA placed them into liquidation yesterday . The credit union had 370 members and assets of approximately $388,000. The official statement is here.
The National Credit Union Administration (NCUA) placed Interfaith Federal Credit Union of East Orange, New Jersey, into liquidation yesterday.
The NCUA Asset Management and Assistance Center will issue checks to individuals holding verified share accounts in the Interfaith Federal Credit Union within one week.
Deposits on that record are insured to at least $100,000 on regular accounts and $250,000 on certain retirement accounts.
