Archive for the ‘CREDIT UNION CONSERVATORSHIPS’ Category
Saturday, July 31st, 2010
Certified Federal Credit Union, Commerce , California, became the 12th federally insured credit union in the nation to be closed in 2010, when it was placed placed into conservatorship by federal regulators. This isn't a failure, but these conservatorships often lead to liquidations.
Certified Federal Credit Union in the City of Commerce was ...
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Monday, April 26th, 2010
St. Paul Croatian FCU, Eastlake, Ohio, was placed into conservatorship today by The National Credit Union Administration (NCUA).
Following a quarter in which St. Paul Croatian FCU reported a substantial decline in the value of its real estate and secured loans, the NCUA on Friday placed it into conservatorship.
The action means ...
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Wednesday, March 24th, 2010
Tracy Federal Credit Union, went from the frying pan into the fire as Federal placed the ailing institution into conservatorship on Friday and then put the ailing institution out of it's misery today turning it over to the Valley First Credit Union of Modesto.
The 5,900 members of Tracy Federal Credit ...
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Friday, October 23rd, 2009
While the FDIC was busy closing its 106 bank on the year the National Credit Union Administration (NCUA) placed First Delta Credit Union of Marks, Mississippi, into conservatorship.
The National Credit Union Administration assumed control of operations at First Delta Federal Credit Union of Marks, Mississippi. The National Credit Union Administration’s goal ...
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Thursday, September 24th, 2009
Following in the footsteps of two recent credit union closures, NCUA took into voluntary conservatorship Keys Federal Credit Union of Key West, Florida.
The NCUA placed Keys Federal Credit Union of Key West, Florida into conservatorship today.
The 13,000-member credit union with assets of $180,000, had a 22.5% decline in assets during the ...
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Wednesday, August 12th, 2009
The NCUA announced today that it had closed down Community One FCU of Las Vegas and its assets and shares were purchased by America First FCU.
America First Federal Credit Union is a full service institution. It has $4.9 billion in assets and serves approximately 495,939 members in and around the ...
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Thursday, August 6th, 2009
Mutual Savings Credit Union, a Shelby County financial institution with 41,700 members and $192 million in assets, was placed into conservatorship by the Alabama Credit Union Administration on Friday.
The Alabama Credit Union Administration seized the credit union’s operations and relieved the CEO and board of directors of their duties.
Tom Tatum ...
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Wednesday, July 22nd, 2009
New Hope Community Development Federal Credit Union in Birmingham, Alabama, a federally chartered and federally insured credit union had its operations taken over by the National Credit Union Administration on July 22, 2009
New Hope Community Development Federal Credit Union was originally chartered in 1996 and serves the West End community ...
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Wednesday, September 3rd, 2008
San Jose-based, Valley Credit Union, with $257M in assets, has been placed into conservatorship with the NCUA (the California DFI, however, had acted to intervene).
The NCUA page on the shutdown states that Valley was founded in 1953 and has nearly 26,900 members. Service is uninterrupted under NCUA supervision.
Valley was state-chartered, ...
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Monday, January 21st, 2008
The Kansas Department of Credit Unions Has stepped in to take over the sickly Communities United Credit Union. It will oversee the transfer of 19,000 member accounts to their credit unions.
Communities United Credit Union serves 1,900 members. The Kansas Department of Credit Unions deemed the credit union to be ...
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