Archive for the ‘CREDIT UNION FAILURES’ Category

A M Community Credit Union of Kenosha, Wisc.

Wednesday, August 1st, 2012

A M Community Credit Union of Kenosha, Wisc., has failed. It is the third creidt union failure in 2012.  The Wisconsin Office of Credit Unions placed A M Community Credit Union of Kenosha, Wisc., into liquidation today and appointed the National Credit Union Administration (NCUA) as liquidating agent. TruStone Financial Federal ...

USA One Credit Union, Matteson, Ill

Monday, June 4th, 2012

Tiny USA One Credit Union has imploded, and has been taken over by  Credit Union 1 of Rantoul, Ill., USA One has/d 8,000 members and serves/d a market base in Matteson, a south Chicago suburb.   The Illinois regulator ordered USA One closed “due to inadequate capital.”   USA One’s allowance for ...

Telesis Community Credit Union, Chatsworth, CA

Monday, June 4th, 2012

Telesis Community Credit Union of Chatsworth, CA, was liquidated and taken over on June 1, 2012, making it the fifth federally insured credit union liquidation in 2012. Per the NCUA: Premier America Credit Union of Chatsworth, Calif., immediately purchased and assumed Telesis Community Credit Union’s members, deposits, core facilities, and consumer loans. ... The ...

Saguache County Credit Union of Moffat, Colorado

Monday, March 26th, 2012

Saguache County Credit Union of Moffat, Colorado,  is the third federally insured credit union liquidation in 2012. The Colorado Division of Financial Services appointed the National Credit Union Administration (NCUA) as liquidating agent of Saguache County Credit Union of Moffat, Colo., on March 23, 2012. Immediately following appointment as liquidating agent of ...

Birmingham Financial Federal Credit Union (BFFCU) of Birmingham, Alabama

Tuesday, December 20th, 2011

Birmingham Financial Federal Credit Union (BFFCU) of Birmingham, Alabama, was the 15ht credit union to be liquidated by the National Credit Union Administration (NCUA) this year. The National Credit Union Administration (NCUA) liquidated Birmingham Financial Federal Credit Union (BFFCU) of Birmingham, Alabama today. ēCO Credit Union of Birmingham, Alabama immediately ...

O.U.R. Federal Credit Union in Eugene, Oregon

Monday, December 5th, 2011

O.U.R. Federal Credit Union in Eugene, Oregon, was liquidated by the National Credit Union Administration (NCUA). The NCUA said Friday night that it had liquidated the $4.25 million O.U.R. Federal Credit Union in Eugene, Ore., and sold “certain … assets and member shares” to the $675 million Northwest Community CU ...

BCT Federal Credit Union of Binghamton, N.Y.

Wednesday, November 30th, 2011

BCT Federal Credit Union of Binghamton, N.Y., has been liquidated by the National Credit Union Administration (NCUA) for insolvency. The National Credit Union Administration (NCUA) liquidated BCT Federal Credit Union of Binghamton, N.Y., today. Visions Federal Credit Union of Endicott, N.Y., immediately assumed BCT Federal Credit Union’s assets, liabilities, and member ...

Vensure Federal Credit Union of Mesa, Arizona

Tuesday, July 12th, 2011

Vensure Federal Credit Union of Mesa, Arizona, has been liquidated by the National Credit Union Administration (NCUA) for insolvency. The National Credit Union Administration (NCUA) liquidated Vensure Federal Credit Union of Mesa, Ariz., today. Member deposits are federally insured by the National Credit Union Share Insurance Fund up to $250,000. ...

Borinquen Federal Credit Union Philadelphia, Pennsylvania

Friday, July 8th, 2011

Borinquen Federal Credit Union Philadelphia, Pennsylvania, which was placed into conservatorship just last month, was shuttered up and shut down for good. The National Credit Union Administration (NCUA) liquidated Borinquen Federal Credit Union of Philadelphia today. NCUA made the decision to liquidate Borinquen Federal Credit Union and discontinue its operations after determining the credit ...

St. James A.M.E. Federal Credit Union, Newark, N.J.

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 ...