Member Deposits Protected up to at least $250,000 by the Share Insurance Fund
ALEXANDRIA, Va. (September 17, 2021) — The National Credit Union Administration today liquidated C O Federal Credit Union in Charleston, South Carolina, after determining the credit union was insolvent and had no prospect for restoring viable operations.
C O Federal Credit Union member deposits are federally insured by the National Credit Union Share Insurance Fund up to at least $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.
Members with questions about their insurance coverage may contact the NCUA’s Consumer Assistance Center at 1.800.755.1030, Monday through Friday from 8 a.m. to 5 p.m. Eastern. Individuals may also visit the MyCreditUnion.gov (opens new window) website at any time for more information about their share insurance coverage.
NCUA’s Asset Management and Assistance Center will issue checks within one week to individuals holding verified accounts in the credit union. Members may direct questions and other inquiries concerning their accounts to NCUA’s Asset Management and Assistance Center:
C O Federal Credit Union
c/o National Credit Union Administration
4807 Spicewood Springs Road, Suite 5100
Austin, Texas 78759
1.877.715.0777 or 512.231.7940
C O Federal Credit Union served 711 members and had deposits of approximately $2.8 million, according to the credit union’s most recent Call Report. Chartered in 1966, the credit union served members of The Citizen Committee of Charleston County, South Carolina, who live in Charleston County, South Carolina, and members of the International Longshoreman's Association — Local #1422 in Charleston, South Carolina.
C O Federal Credit Union is the third federally insured credit union liquidation in 2021.