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. [1]  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.

[1] 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.

Showing 121 - 180 of 255 Results
Year Date Type Credit Union Name City State Status
2013 05/31/2013 Involuntary Liquidation NCP Community Development Federal Credit Union Norfolk Virginia Closed
2013 05/23/2013 Involuntary Liquidation Electrical Workers #527 Federal Credit Union Texas City Texas Closed
2013 05/16/2013 Conservatorship First Kingdom Community Federal Credit Union Selma Alabama Closed
2013 05/03/2013 Involuntary Liquidation Lynrocten Federal Credit Union Lynchburg Virginia Closed
2013 04/12/2013 Involuntary Liquidation Shiloh of Alexandria Federal Credit Union Alexandria Virginia Closed
2013 03/15/2013 Involuntary Liquidation I.C.E. Federal Credit Union Inglewood California Closed
2013 03/15/2013 Involuntary Liquidation Pepsi Cola Federal Credit Union Buena Park California Closed
2013 02/19/2013 Involuntary Liquidation Amez United Credit Union Detroit Michigan Closed
2013 02/08/2013 Conservatorship NCP Community Development Federal Credit Union Norfolk Virginia Closed
2013 01/07/2013 Involuntary Liquidation New Covenant Missionary Baptist Church Credit Union Milwaukee Wisconsin Closed
2012 12/31/2012 Involuntary Liquidation Chetco Federal Credit Union Harbor Oregon Closed
2012 12/17/2012 Involuntary Liquidation Olean Federal Credit Union Olean New York Closed
2012 12/13/2012 Involuntary Liquidation G.I.C. Federal Credit Union Euclid Ohio Closed
2012 11/30/2012 Involuntary Liquidation Border Lodge Credit Union Derby Vermont Closed
2012 11/16/2012 Merger With NCUA Assistance El Barrio Federal Credit Union New York New York Merged
2012 10/31/2012 Involuntary Liquidation Women’s Southwest Federal Credit Union Dallas Texas Closed
2012 10/29/2012 Involuntary Liquidation U.S. Central Bridge Corporate Federal Credit Union Lenexa Kansas Closed
2012 09/28/2012 Involuntary Liquidation El Paso's Federal Credit Union El Paso Texas Closed
2012 09/04/2012 Merger With NCUA Assistance CR Community First Eagle Butte South Dakota Merged
2012 08/09/2012 Involuntary Liquidation United Catholic Credit Union Temperance Michigan Closed
2012 08/01/2012 Involuntary Liquidation A M Community Credit Union Kenosha Wisconsin Closed
2012 07/27/2012 Conservatorship Trinity Credit Union Trinidad Colorado Merged
2012 07/06/2012 Involuntary Liquidation Western Bridge Corporate Federal Credit Union San Dimas California Closed
2012 06/30/2012 Merger With NCUA Assistance Branch 825 NALC Credit Union Oak Brook Illinois Merged
2012 06/01/2012 Involuntary Liquidation Telesis Community Credit Union Chatsworth California Closed
2012 05/24/2012 Merger With NCUA Assistance California Pacific Federal Credit Union Concord California Merged
2012 05/24/2012 Merger With NCUA Assistance C.D. Federal Credit Union Concord California Merged
2012 05/18/2012 Involuntary Liquidation Wausau Postal Employees Credit Union Wausau Wisconsin Closed
2012 03/31/2012 Merger With NCUA Assistance H.A.A. Federal Credit Union Houston Texas Merged
2012 03/26/2012 Involuntary Liquidation Shepherd's Federal Credit Union Charlotte North Carolina Closed
2012 03/23/2012 Involuntary Liquidation Saguache County Credit Union Moffat Colorado Closed
2012 03/23/2012 Conservatorship Telesis Community Credit Union Chatsworth California Closed
2012 02/26/2012 Merger With NCUA Assistance H.B.E. Credit Union Seward Nebraska Merged
2012 02/19/2012 Involuntary Liquidation People for People Community Development Credit Union (CDCU) Philadelphia Pennsylvania Closed
2012 02/17/2012 Conservatorship A M Community Credit Union Kenosha Wisconsin Closed
2012 01/27/2012 Involuntary Liquidation Eastern New York Federal Credit Union Napanoch New York Closed
2012 01/06/2012 Merger With NCUA Assistance Kunia Federal Credit Union Waipahu Hawaii Merged
2012 01/06/2012 Conservatorship People for People Community Development Credit Union (CDCU) Philadelphia Pennsylvania Closed
2011 12/19/2011 Involuntary Liquidation Birmingham Financial Federal Credit Union Birmingham Alabama Closed
2011 12/02/2011 Involuntary Liquidation O.U.R. Federal Credit Union Eugene Oregon Closed
2011 11/30/2011 Involuntary Liquidation BCT Federal Credit Union Binghamton New York Closed
2011 10/27/2011 Conservatorship Birmingham Financial Federal Credit Union Birmingham Alabama Closed
2011 09/23/2011 Conservatorship Chetco Federal Credit Union Harbor Oregon Closed
2011 07/22/2011 Conservatorship Saguache County Credit Union Moffat Colorado Closed
2011 07/11/2011 Involuntary Liquidation Vensure Federal Credit Union Mesa Arizona Closed
2011 07/08/2011 Involuntary Liquidation Borinquen Federal Credit Union Philadelphia Pennsylvania Closed
2011 06/24/2011 Conservatorship O.U.R Federal Credit Union Eugene Oregon Closed
2011 06/24/2011 Involuntary Liquidation St. James A.M.E. Federal Credit Union Newark New Jersey Closed
2011 06/24/2011 Conservatorship Borinquen Federal Credit Union Philadelphia Pennsylvania Closed
2011 06/10/2011 Conservatorship BCT Federal Credit Union Binghamton New York Closed
2011 05/31/2011 Involuntary Liquidation Valued Members Federal Credit Union Jackson Mississippi Closed
2011 05/18/2011 Involuntary Liquidation Hmong American Federal Credit Union St. Paul Minnesota Closed
2011 05/11/2011 Merger With NCUA Assistance South DeKalb Church Federal Credit Union Decatur Georgia Merged
2011 05/04/2011 Conservatorship Hmong American Federal Credit Union St. Paul Minnesota Closed
2011 05/04/2011 Conservatorship Valued Members Federal Credit Union Jackson Mississippi Closed
2011 04/29/2011 Involuntary Liquidation Utah Central Credit Union Salt Lake City Utah Closed
2011 04/15/2011 Conservatorship Texans Credit Union Richardson Texas Released
2011 04/15/2011 Conservatorship Vensure Federal Credit Union Mesa Arizona Closed
2011 04/08/2011 Involuntary Liquidation Mission San Francisco Federal Credit Union San Francisco California Closed
2011 03/07/2011 Involuntary Liquidation Land of Enchantment Federal Credit Union Santa Fe New Mexico Closed