Archive for the ‘CREDIT UNION FAILURES’ Category
Friday, March 4th, 2011
Wisconsin Heights Credit Union, Ogema, Wisconsin, is the fourth credit union to be shuttered in 2011.
Wisconsin's Office of Credit Unions closed the Wisconsin Heights Credit Union of Ogema, Wisconsin and appointed NCUA as its liquidator.
The agency announced immediately that CoVantage Credit Union of Antigo, Wisconsin, will assume the members, assets ...
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Wednesday, February 23rd, 2011
NYC OTB Federal Credit Union, New York, New York, was put out of it's misery today by The National Credit Union Administration (NCUA) .
The NCUA liquidated the New York City-based OTB Federal Credit Union on Wednesday, the agency announced.
The $1.8 million credit union had a 7.1% decline in assets during ...
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Tuesday, February 15th, 2011
Family First Federal Credit Union of Orem, Utah, was shuttered today by the National Credit Union Administration (NCUA).
-The National Credit Union Administration
(NCUA) today placed Family First Federal Credit Union of Orem, Utah, into liquidation and Security Service Federal Credit Union of San Antonio, Texas, purchased and assumed Family First’s assets, ...
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Friday, February 4th, 2011
Oakland Municipal Credit Union, was neatly deposited on the scrap heap today by The California Department of Financial Institutions (DFI) for having inadequate capital. The NCUA was appointed the liquidating agent of Oakland Municipal by the DFI. The National Credit Union Administration (NCUA) has arranged the transfer of Oakland ...
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Wednesday, December 15th, 2010
Beehive Credit Union of Salt Lake City, Utah, Was finally shut down by NUCA today though it's fate was sealed months ago.
"Back in probably September" officials with the National Credit Union Administration got in touch with Security Service Federal Credit Union and other potential buyers, John Worthington, a spokesman for ...
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Tuesday, November 23rd, 2010
Constitution Corporate FCU will be liquidated by NUCA latter this month.
The NCUA said today that on Nov. 30 it will liquidate Constitution Corporate FCU, one of the three coporates it conserved in September.
The agency is transferring Constitution’s operations to Members United Bridge Corporate Federal Credit Union.
The agency said that liquidation ...
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Friday, October 29th, 2010
The Union Credit Union, Spokane , Washington, was closed by state regulators and given over to NUCA.
Citing losses caused by loan losses, Washington Department of Financial Institutions closed The Union Credit Union of Spokane and appointed the NCUA as liquidating agent.
The state agency approached 18 other credit unions in the ...
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Thursday, October 21st, 2010
Phil-Pet FCU Pampa, Texas was shuttered by NUCA.
The NCUA closed Phil-Pet Federal Credit Union after determining that it is insolvent and transferred its assets to Pantex Federal Credit Union.
Phil-Pet FCU, which was founded in 1940, was headquartered in Pampa, Texas. It had 765 members and assets of $3.2 million. It ...
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Wednesday, September 1st, 2010
First American Credit Union, Beloit, Michigan, is the 15th credit union to be shut down nationwide this year.
First American Credit Union of Beloit has been taken over by a Michigan credit union.
First American was founded in 1933 by employees at Beloit Iron Works and expanded over the years to serve ...
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Tuesday, August 3rd, 2010
Kappa Alpha Psi FCU, Addison, Texas, became unlucky number 13 in 2010 as it was shuttered by NCUA today.
Saying that it is “minimally capitalized and there are no reasonable prospects for the credit union to achieve adequate capitalization,” the NCUA today announced it was liquidating Kappa Alpha Psi FCU.
The Addison, ...
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