The National Credit Union Administration, closed tiny I.C.E. FCU of Inglewood, Califorina, making it the third federally insured credit union liquidation in 2013. The ailing credit union had assets of $3.4 million.
The National Credit Union Administration (NCUA) today liquidated I.C.E. Federal Credit Union of Inglewood, Calif. NCUA made the decision to liquidate I.C.E. Federal Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.
Member deposits are federally insured by the National Credit Union Share Insurance Fund up to $250,000. NCUA’s Asset Management and Assistance Center will issue correspondence to individuals holding verified share accounts in the credit union within one week.
Members with additional 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 5 a.m. and 2 p.m. Pacific. Individuals may also visit the MyCreditUnion.gov website at any time for more information about their insurance coverage.
I.C.E. Federal Credit Union served 942 members and had assets of approximately $3.4 million, according to the credit union’s most recent Call Report. Chartered in 1939, I.C.E. Federal Credit Union served employees of the City of Inglewood and their immediate family members.
I.C.E. Federal Credit Union is the third federally insured credit union liquidation in 2013.