Archive for June, 2011
Saturday, June 25th, 2011
O.U.R. Federal Credit Union of Eugene, Oregon, became the eighth federal credit union placed into conservatorship by the National Credit Union Administration (NCUA) this year.
The NCUA on Friday conserved O.U.R. Federal Credit Union of Eugene, Ore. and promised to work to resolve issues that impact the financial institution’s safety and ...
Posted in CREDIT UNION CONSERVATORSHIPS | No Comments »
Friday, June 24th, 2011
Mountain Heritage Bank, Clayton, Georgia, was closed tonight making it the 48th FDIC-insured institution to fail in the nation this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $41.1 million.
Mountain Heritage Bank, Clayton, Georgia, was closed today by the Georgia Department of Banking ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, June 24th, 2011
St. James A.M.E. Federal Credit Union, Newark, N.J. became the tenth federally insured credit union liquidation this year.
The National Credit Union Administration (NCUA) liquidated St. James A.M.E. Federal Credit Union of Newark, N.J., today. North Jersey Federal Credit Union of Totowa, N.J., immediately assumed St. James A.M.E. Federal Credit Union’s members.
The accounts of ...
Posted in CREDIT UNION FAILURES | No Comments »
Friday, June 24th, 2011
Borinquen Federal Credit Union Philadelphia, Pennsylvania, is the seventh federally insured credit union placed into conservatorship during 2011.
The National Credit Union Administration (NCUA) today assumed control of service and operations at Borinquen Federal Credit Union of
Philadelphia. While continuing normal member services, NCUA will work to resolve issues affecting the institution’s safety and ...
Posted in CREDIT UNION CONSERVATORSHIPS | 1 Comment »
Friday, June 17th, 2011
First Commercial Bank of Tampa Bay, Tampa, Florida, was shuttered tonight making it the 47th FDIC-insured institution to fail in the nation this year. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $28.5 million.
First Commercial Bank of Tampa Bay, Tampa, Florida, was closed today ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, June 17th, 2011
McIntosh State Bank, Jackson, Georgia, makes it number 46 on the year for FDIC beat down banks. The agency served up the scraps to Hamilton State Bank, Hoschton, Georgia. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $80.0 million.
McIntosh State Bank, Jackson, Georgia, was ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, June 10th, 2011
BCT Federal Credit Union of Binghamton, N.Y., was shut down today by the national credit Union administration, NCUA.
NCUA took over control of service and operations at BCT Federal Credit Union of Binghamton, N.Y. NCUA says that while continuing normal member services, the regulator will work to resolve issues affecting the ...
Posted in CREDIT UNION FAILURES | No Comments »
Saturday, June 4th, 2011
Atlantic Bank and Trust, Charleston, South Carolina, became the 45th FDIC-insured institution to fail in the nation this year. The agency estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.4 million.
Atlantic Bank and Trust, Charleston, South Carolina, was closed today by the Office of Thrift Supervision, ...
Posted in FDIC FAILED BANKS | No Comments »
Wednesday, June 1st, 2011
Valued Members Federal Credit Union of Jackson, Miss., which had been placed into conservatorship by the National Credit Union Administration (NCUA), was purchased today by Magnolia Federal Credit Union.
The $104 million Magnolia Federal Credit Union has purchased the assets of the $9 million Valued Members Federal Credit Union, both of Jackson, ...
Posted in CREDIT UNION CONSERVATORSHIPS, CREDIT UNION FAILURES | No Comments »
