Archive for the ‘CREDIT UNION FAILURES’ Category

I.C.E. FCU of Inglewood, Califorina

Monday, March 18th, 2013

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 ...

Amez United Credit Union of Detroit, Michigan

Tuesday, February 19th, 2013

Amez United Credit Union of Detroit, Michigan, was been shut down by  the Michigan Office of Financial and Insurance Regulation today and it's carcass was fed to the National Credit Union Association as receiver. The tiny credit union  served about 160 members and had $168,000 in assets.  The Michigan Office of Financial and Insurance Regulation ...

New Covenant Missionary Baptist Church Credit Union, Milwaukee, Wisconsin

Tuesday, January 8th, 2013

New Covenant Missionary Baptist Church Credit Union, Milwaukee, Wisconsin, is the first  liquidation of a federally insured credit union in 2013. The members held assets of approximately $585,000. The Wisconsin Office of Credit Unions liquidated New Covenant Missionary Baptist Church Credit Union (New Covenant) of Milwaukee, Wis., today and appointed the National Credit Union Administration ...

Chetco FCU of Harbor, Oregon

Wednesday, January 2nd, 2013

Chetco FCU of Harbor, Oregon, moves from the frying pan to the fire as the National Credit Union Administration announced Friday that it had dived the carcass among two other credit unions. The failure of  Chetco FCU brings to 14 the number of failures in 2012. The NCUA announced late Friday that after 15 months ...

Olean Tile Employees Federal Credit Union, Olean, N.Y.

Monday, December 17th, 2012

Olean Tile Employees Federal Credit Union, Olean, N.Y.,was shuttered today by the National Credit Union Administration (NCUA). Olean Tile Employees Federal Credit Union is the thirteenth federally insured credit union liquidation in 2012 and the second credit union headquartered in New York to fail this year. Member deposits are federally insured by the ...

G.I.C. Federal Credit Union, Euclid, Ohio

Saturday, December 15th, 2012

G.I.C. Federal Credit Union, Euclid, Ohio, was closed by federal regulators today. It is  the 12th federally insured credit union to be closed in 2012.  G.I.C. was founded in 1936, and had 3,476 members with about $15 million in assets, according to the NCUA. All customers' deposits are  insured by the National Credit Union ...

Border Lodge Credit Union of Derby Line, Vt.

Wednesday, December 5th, 2012

Border Lodge Credit Union of Derby Line, Vt., was closed by regulators on Friday appointing the NCUA as liquidating agent. Member deposits are protected up to $250,000 and a consumer service hotline was opened. It is  the eleventh federally insured credit union to go belly up this year. The Vermont Department of Financial ...

Women’s Southwest Federal Credit Union, Dallas, Texas

Wednesday, October 31st, 2012

Women's Southwest Federal Credit Union, Dallas, Texas, was liquidated by NCUA today. The tiny credit union was this year’s 18th credit union failure. The National Credit Union Administration (NCUA) today liquidated Women’s Southwest Federal Credit Union (WSFCU) of Dallas, Texas. NCUA made the decision to liquidate WSFCU and discontinue operations after determining the credit ...

El Paso’s Federal Credit Union (EPFCU) of El Paso, Texas

Tuesday, October 2nd, 2012

El Paso’s Federal Credit Union (EPFCU) of El Paso, Texas, was declared insolvent and closed by the National Credit Union Administration (NCUA). A small El Paso credit union that for 60 years served workers of the old Asarco smelter was shut down Friday after it was found to be insolvent. The National ...

United Catholic Credit Union of Temperance, Michigan

Friday, August 10th, 2012

United Catholic Credit Union (UCCU) of Temperance, Michigan, was shuttered under the weight of allegations of  criminal activity. It is the eighth federally insured credit union liquidation in 2012. The Michigan Office of Financial Insurance Regulation on Thursday closed the $303,261 United Catholic Credit Union of Temperance, Mich., alleging criminal activity at the one-person shop. The OFIR appointed the NCUA as ...