April 2010
Tracy Federal Credit Union Closes; Members Now Served by Valley First Federal Credit Union
Member Accounts are Safe and Federally Insured
ALEXANDRIA, Va. (April 27, 2010) – The National Credit Union Administration (NCUA) today liquidated Tracy Federal Credit Union (Tracy FCU) of Tracy, California, and accepted Modesto, California, based Valley First Credit Union’s offer to purchase and assume the credit union.
Valley First Credit Union purchased and assumed Tracy FCU’s assets, loans and shares, enabling Tracy FCU’s members to receive uninterrupted credit union service. Tracy FCU’s declining financial condition led to its closure and subsequent purchase and assumption. At closure, Tracy FCU had $25.4 million in assets and served 5,973 members.
Valley First Credit Union is a full service credit union and its members have access to a broad array of financial services. With assets of $317.1 million, its seven branch locations serve approximately 47,273 members who either live, work, worship, or attend school in Fresno, Madera, Mariposa, Marced, San Joaquin, Stanislaus, Tuolumne Counties, California, or work for one of the companies in its field of membership.
Member accounts are insured to at least $250,000 by the National Credit Union Share Insurance Fund, a federal insurance fund backed by the full faith and credit of the U.S. Government. This is the 6th federally insured credit union liquidation in 2010.
Latest News
The National Credit Union Administration today released its 2022 Annual Report, highlighting the…
2 min read
I want to begin my remarks by stating that I will enthusiastically be supporting today’s final rule…
3 min read
For years, the NCUA considered how to create a regulatory environment where credit unions could…
3 min read
The National Credit Union Administration Board held its third open meeting of 2023 and approved a…
2 min read