Archive for the ‘CREDIT UNION FAILURES’ Category
Wednesday, September 30th, 2009
The Nevada Division of Financial Institution has closed Clearstar Financial Credit Union, appointing United Federal Credit Union as liquidating agent.
The National Credit Union Administration (NCUA) today accepted appointment as liquidating agent of Clearstar Financial Credit Union, in Reno Nevada, following the Nevada Division of Financial Institution’s decision to close the ...
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Tuesday, September 22nd, 2009
The National Credit Union Administration has closed its sixth ailing credit Union tonight. Comunidades Federal Credit Union of Los Angeles, California, will see the majority of its accounts taken over by Water and Power Community Credit Union.
The NCUA announced yesterday that it has closed Comunidades Federal Credit Union of Los Angeles ...
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Monday, August 31st, 2009
Kaiser Lakeside Credit Union (Kaiser Lakeside) of Oakland, California was closed Friday by the by the California Department of Financial Institutions (DFI). National Credit Union Administration was appointed failed credit union's liquidating agent.
The second credit union in less than a week was closed on August 31, 2009. The ...
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Friday, April 24th, 2009
Eastern Financial Florida Credit Union, Miramar, FL, was closed Friday by the National Credit Union Administration. The National Credit Union Administration has appointed Space Coast Credit Union to manage the institution's day-to-day operations.
Eastern Financial, started in 1937 by 10 employees of the former Eastern Airlines, remains open for business as usual, ...
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Saturday, March 21st, 2009
The National Credit Union Administration Board today placed U.S. Central Federal Credit Union, Lenexa, Kansas, into conservatorship to stabilize the corporate credit union system and resolve balance sheet issues. The seizure was done under the Corporate Stabilization Plan.
U.S. Central Federal Credit Union in Lenexa, Kan., and Western Corporate Federal Credit Union ...
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Saturday, March 21st, 2009
Western Corporate Federal Credit Union, in San Dimas, CA, was one of two credit unions placed into conservatorship by the National Credit Union Administration Board today. The seizure was done under the Corporate Stabilization Plan to help stabilize the corporate credit union system and resolve balance sheet issues.
U.S. Central Federal Credit Union in Lenexa, Kan., ...
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Friday, December 5th, 2008
The State of Connecticut closed it's first credit union in a decade today as the Connecticut Department of Banking assumed control of West Hartford Credit Union Inc. and appointed NCUA receiver. West Hartford Credit Union is a tiny credit union with just under $3 million in assets, but the closure ...
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Friday, October 17th, 2008
The National Credit Union Administration (NCUA) is still active this week as it has taken over operations of High Desert Federal Credit Union on October 16.
The NCUA assumed control of High Desert FCU, which lost $4.6 million in the second quarter of 2008.
The Apple Valley, Calif.-based credit union was placed into conservatorship ...
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Friday, October 3rd, 2008
N&W Poca Division Federal Credit Union of Bluefield, West Virginia, became Unlucky Credit Union number 13 when the National Credit Union Administration (NCUA) placed it into liquidation on October 3.
NCUA liquidated N&W Poca Division Federal Credit Union, which had assets of $6 million and 1,194 members. Its latest financial report indicated ...
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Friday, October 3rd, 2008
TEXDOT-WF Credit Union, Texas, is the 12th credit union to close since the credit bubble burst. The institution served 530 members and had $1.8M in assets at the time of the closure.
The Texas Credit Union Department made the decision to liquidate TEXDOT-WF Credit Union as of September 30, 2008, and discontinue ...
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