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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
2014 03/31/2014 Involuntary Liquidation Mayfair Federal Credit Union Philadelphia Pennsylvania Closed
2014 08/31/2014 Merger With NCUA Assistance Macon County School Employees Federal Credit Union Decatur Illinois Merged
2017 08/31/2017 Merger With NCUA Assistance MADCO Credit Union Edwardsville Illinois Merged
2013 05/03/2013 Involuntary Liquidation Lynrocten Federal Credit Union Lynchburg Virginia Closed
2017 07/31/2017 Merger With NCUA Assistance Love Gospel Assembly Federal Credit Union Bronx New York Merged
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
2014 09/05/2014 Involuntary Liquidation Louden Depot Community Credit Union Fairfield Iowa Closed
2014 05/23/2014 Involuntary Liquidation Life Line Credit Union Richmond Virginia Closed
2010 05/01/2010 Merger With NCUA Assistance Liberty Alliance Federal Credit Union Lexington Kentucky Merged
2010 03/05/2010 Involuntary Liquidation Lawrence County School Employees Federal Credit Union New Castle Pennsylvania Closed
2011 03/07/2011 Involuntary Liquidation Land of Enchantment Federal Credit Union Santa Fe New Mexico Closed
2015 07/16/2015 Involuntary Liquidation Lakeside Federal Credit Union Hammond Indiana Closed
2018 09/30/2018 Involuntary Liquidation LOMTO Federal Credit Union Woodside New York Closed
2017 06/26/2017 Conservatorship LOMTO Federal Credit Union Woodside New York Closed
2012 01/06/2012 Merger With NCUA Assistance Kunia Federal Credit Union Waipahu Hawaii Merged
2015 07/01/2015 Merger With NCUA Assistance Kolmar NY Employees Federal Credit Union Port Jervis New York Merged
2009 09/24/2009 Conservatorship Keys Federal Credit Union Key West Florida Released
2010 01/08/2010 Involuntary Liquidation Kern Central Credit Union Bakersfield California Closed
2010 08/03/2010 Involuntary Liquidation Kappa Alpha Psi Addison Texas Closed
2009 08/31/2009 Involuntary Liquidation Kaiser Lakeside Credit Union Oakland California Closed
2009 07/01/2009 Merger With NCUA Assistance Kabel Federal Credit Union Belpre Ohio Merged
2014 02/28/2014 Merger With NCUA Assistance Jayhawk Federal Credit Union Lawrence Kansas Merged
2023 03/08/2023 Involuntary Liquidation Inter-American Federal Credit Union Brooklyn New York Closed
2010 09/13/2010 Involuntary Liquidation Industries Puerto Rico Federal Credit Union Manati Puerto Rico Closed
2021 03/31/2021 Involuntary Liquidation Indianapolis’ Newspaper Federal Credit Union Indianapolis Indiana Closed
2021 01/14/2021 Conservatorship Indianapolis’ Newspaper Federal Credit Union Indianapolis Indiana Closed
2016 08/17/2016 Merger With NCUA Assistance Immanuel Baptist Church Federal Credit Union New Haven Connecticut Merged
2020 05/29/2020 Involuntary Liquidation IBEW Local Union 712 Federal Credit Union Beaver Pennsylvania Closed
2014 07/10/2014 Involuntary Liquidation IBEW Local 816 Federal Credit Union Paducah Kentucky Closed
2013 03/15/2013 Involuntary Liquidation I.C.E. Federal Credit Union Inglewood California Closed
2011 05/04/2011 Conservatorship Hmong American Federal Credit Union St. Paul Minnesota Closed
2011 05/18/2011 Involuntary Liquidation Hmong American Federal Credit Union St. Paul Minnesota Closed
2009 06/18/2009 Involuntary Liquidation High Desert Federal Credit Union Apple Valley California Closed
2009 12/31/2009 Involuntary Liquidation HeritageWest Federal Credit Union Tooele Utah Closed
2015 10/16/2015 Conservatorship Helping Other People Excel Federal Credit Union Jackson New Jersey Closed
2015 11/20/2015 Involuntary Liquidation Helping Other People Excel Federal Credit Union Jackson New Jersey Closed
2014 12/12/2014 Involuntary Liquidation Health One Credit Union Detroit Michigan Closed
2014 05/16/2014 Conservatorship Health One Credit Union Detroit Michigan Closed
2012 02/26/2012 Merger With NCUA Assistance H.B.E. Credit Union Seward Nebraska Merged
2012 03/31/2012 Merger With NCUA Assistance H.A.A. Federal Credit Union Houston Texas Merged
2011 02/17/2011 Conservatorship Greensburg Community Federal Credit Union Greensburg Pennsylvania Merged
2013 08/05/2013 Merger With NCUA Assistance Greater Oregon Federal Credit Union Burns Oregon Merged
2018 07/31/2018 Involuntary Liquidation Greater Christ Baptist Church Credit Union Detroit Michigan Closed
2015 12/01/2015 Involuntary Liquidation Greater Abyssinia Federal Credit Union Cleveland Ohio Closed
2017 11/30/2017 Merger With NCUA Assistance Good Street Baptist Church Federal Credit Union Dallas Texas Merged
2009 12/31/2009 Merger With NCUA Assistance GCM Federal Credit Union St. Paul Minnesota Merged
2012 12/13/2012 Involuntary Liquidation G.I.C. Federal Credit Union Euclid Ohio Closed
2010 02/25/2010 Involuntary Liquidation Friendship Community Federal Credit Union Clarksdale Mississippi Closed
2009 08/28/2009 Involuntary Liquidation Free Choice Federal Credit Union Feasterville Pennsylvania Closed
2009 03/31/2009 Merger With NCUA Assistance Fort Snelling Federal Credit Union Minneapolis Minnesota Merged
2017 03/17/2017 Involuntary Liquidation Florida Conference AME Church (FCAMEC) Federal Credit Union Tallahassee Florida Closed
2009 12/17/2009 Merger With NCUA Assistance First Service Credit Union Milwaukee Wisconsin Merged
2009 08/31/2009 Merger With NCUA Assistance First Security Credit Union Elm Grove Wisconsin Merged
2013 05/16/2013 Conservatorship First Kingdom Community Federal Credit Union Selma Alabama Closed
2013 05/31/2013 Voluntary Liquidation First Kingdom Community Federal Credit Union Selma Alabama Closed
2018 02/28/2018 Involuntary Liquidation First Jersey Credit Union Wayne New Jersey Closed
2015 12/29/2015 Involuntary Liquidation First Hawaiian Homes Federal Credit Union Hoolehua Hawaii 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