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Conservatorships and Liquidations

Conservatorships: From time to time, the National Credit Union Administration places a credit union into conservatorship in order to resolve operational problems that could affect that credit union’s safety and soundness. Conservatorship means the NCUA has taken control of the credit union. During a conservatorship, the credit union remains open; members may transact business; and accounts remain insured by the National Credit Union Share Insurance Fund. For federally chartered credit unions, the NCUA takes this action on its own; in the case of a state-chartered credit union, the state supervisory authority initiates the conservatorship and in many cases appoints the NCUA as agent for the conservator.

Conservatorships can have three outcomes:

  • The credit union can resolve its operational problems and be returned to member ownership;
  • The credit union can merge with another credit union; or
  • The NCUA can liquidate the credit union.

Liquidations: Liquidation means a credit union has been closed; however, a liquidated credit union may be purchased — and members, assets, and loans assumed — by another credit union, so that members will be able to continue receiving financial services. If a credit union is placed into liquidation, the NCUA’s Asset Management and Assistance Center (AMAC) will oversee the liquidation and set up an asset management estate (AME) to manage assets, settle members’ insurance claims, and attempt to recover value from the closed credit union’s assets.

An AME holds the assets of a failed institution. Commonly administered by AMAC, to which the NCUA Board has delegated statutory authorities providing broad supervisory and management powers over the credit union's assets and operations. These powers include the ability to facilitate funding and disposition of assets. Also known as a liquidation estate.

If the member shares are not assumed by another credit union, all verified member shares are typically paid within five days of a credit union’s closure. 

No member of a federally insured credit union has ever lost a penny in insured accounts.

Showing 121 - 180 of 260 Results
Year Date Type Credit Union Name City State Status
2010 05/01/2010 Merger With NCUA Assistance Liberty Alliance Federal Credit Union Lexington Kentucky Merged
2014 02/14/2014 Involuntary Liquidation St. Francis Campus Credit Union Little Falls Minnesota Closed
2022 10/07/2022 Conservatorship O.F. Toalston Federal Credit Union Logan West Virginia Closed
2022 11/15/2022 Involuntary Liquidation O.F. Toalston Federal Credit Union Logan West Virginia Closed
2009 07/06/2009 Involuntary Liquidation Watts United Credit Union Los Angeles California Closed
2009 09/22/2009 Involuntary Liquidation Comunidades Federal Credit Union Los Angeles California Closed
2009 10/28/2009 Involuntary Liquidation Second Baptist Church Credit Union Los Angeles California Closed
2018 06/29/2018 Involuntary Liquidation Louisville Metro Police Officers Credit Union Louisville Kentucky Closed
2017 12/15/2017 Conservatorship Louisville Metro Police Officers Credit Union Louisville Kentucky Closed
2013 05/03/2013 Involuntary Liquidation Lynrocten Federal Credit Union Lynchburg Virginia Closed
2010 09/13/2010 Involuntary Liquidation Industries Puerto Rico Federal Credit Union Manati Puerto Rico Closed
2010 06/30/2010 Merger With NCUA Assistance First Delta Federal Credit Union Marks Mississippi Merged
2009 10/23/2009 Conservatorship First Delta Federal Credit Union Marks Mississippi Merged
2011 04/15/2011 Conservatorship Vensure Federal Credit Union Mesa Arizona Closed
2011 07/11/2011 Involuntary Liquidation Vensure Federal Credit Union Mesa Arizona Closed
2015 03/31/2015 Involuntary Liquidation North Dade Community Development Federal Credit Union Miami Gardens Florida Closed
2009 12/17/2009 Merger With NCUA Assistance First Service Credit Union Milwaukee Wisconsin Merged
2013 01/07/2013 Involuntary Liquidation New Covenant Missionary Baptist Church Credit Union Milwaukee Wisconsin Closed
2016 02/05/2016 Involuntary Liquidation CTK Credit Union Milwaukee Wisconsin Closed
2009 03/31/2009 Merger With NCUA Assistance Fort Snelling Federal Credit Union Minneapolis Minnesota Merged
2009 06/30/2009 Merger With NCUA Assistance Eastern Financial Credit Union Miramar Florida Merged
2009 04/15/2009 Conservatorship Eastern Financial Federal Credit Union Miramar Florida Merged
2010 01/01/2010 Merger With NCUA Assistance Coastal Waters Federal Credit Union Mobile Alabama Merged
2011 07/22/2011 Conservatorship Saguache County Credit Union Moffat Colorado Closed
2012 03/23/2012 Involuntary Liquidation Saguache County Credit Union Moffat Colorado Closed
2017 10/31/2017 Merger With NCUA Assistance Tri-Rivers Federal Credit Union Montgomery Alabama Merged
2012 01/27/2012 Involuntary Liquidation Eastern New York Federal Credit Union Napanoch New York Closed
2010 03/05/2010 Involuntary Liquidation Lawrence County School Employees Federal Credit Union New Castle Pennsylvania Closed
2016 08/17/2016 Merger With NCUA Assistance Immanuel Baptist Church Federal Credit Union New Haven Connecticut Merged
2013 06/28/2013 Involuntary Liquidation Ochsner Clinic Federal Credit Union New Orleans Louisiana Closed
2010 05/17/2010 Involuntary Liquidation Convent Federal Credit Union New York New York Closed
2012 11/16/2012 Merger With NCUA Assistance El Barrio Federal Credit Union New York New York Merged
2011 02/23/2011 Involuntary Liquidation NYC OTB Federal Credit Union New York New York Closed
2015 07/01/2015 Merger With NCUA Assistance 65 Family Federal Credit Union New York New York Merged
2015 09/18/2015 Conservatorship Montauk Credit Union New York New York Merged
2017 10/27/2017 Involuntary Liquidation New York State Employees Federal Credit Union New York New York Closed
2014 03/14/2014 Merger With NCUA Assistance Union Settlement Federal Credit Union New York New York Merged
2019 05/17/2019 Conservatorship Municipal Credit Union New York New York Released
2011 06/24/2011 Involuntary Liquidation St. James A.M.E. Federal Credit Union Newark New Jersey Closed
2013 02/08/2013 Conservatorship NCP Community Development Federal Credit Union Norfolk Virginia Closed
2013 05/31/2013 Involuntary Liquidation NCP Community Development Federal Credit Union Norfolk Virginia Closed
2009 06/10/2009 Merger With NCUA Assistance Norwood School Employees Federal Credit Union Norwood Massachusetts Merged
2012 06/30/2012 Merger With NCUA Assistance Branch 825 NALC Credit Union Oak Brook Illinois Merged
2009 08/31/2009 Involuntary Liquidation Kaiser Lakeside Credit Union Oakland California Closed
2011 02/04/2011 Involuntary Liquidation Oakland Municipal Credit Union Oakland California Closed
2011 03/04/2011 Involuntary Liquidation Wisconsin Heights Credit Union Ogema Wisconsin Closed
2012 12/17/2012 Involuntary Liquidation Olean Federal Credit Union Olean New York Closed
2010 06/09/2010 Involuntary Liquidation Orange County Employees Credit Union Orange Texas Closed
2010 07/30/2010 Conservatorship Family First Federal Credit Union Orem Utah Closed
2011 02/15/2011 Involuntary Liquidation Family First Federal Credit Union Orem Utah Closed
2009 01/01/2009 Merger With NCUA Assistance Channel Islands Federal Credit Union Oxnard California Merged
2014 07/10/2014 Involuntary Liquidation IBEW Local 816 Federal Credit Union Paducah Kentucky Closed
2022 09/30/2022 Involuntary Liquidation Paducah Teachers Federal Credit Union Paducah Kentucky Closed
2010 10/18/2010 Involuntary Liquidation Phil-Pet Federal Credit Union Pampa Texas Closed
2014 01/24/2014 Conservatorship Parsons Pittsburg Credit Union Parsons Kansas Closed
2014 03/21/2014 Involuntary Liquidation Parsons Pittsburg Credit Union Parsons Kansas Closed
2011 06/24/2011 Conservatorship Borinquen Federal Credit Union Philadelphia Pennsylvania Closed
2013 11/01/2013 Conservatorship Mayfair Federal Credit Union Philadelphia Pennsylvania Closed
2012 02/19/2012 Involuntary Liquidation People for People Community Development Credit Union (CDCU) Philadelphia Pennsylvania Closed
2012 01/06/2012 Conservatorship People for People Community Development Credit Union (CDCU) Philadelphia Pennsylvania Closed