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 1 - 60 of 255 Results
Year Date Type Credit Union Name City State Status
2013 06/30/2013 Merger With NCUA Assistance Zane Trace Federal Credit Union Zanesville Ohio Merged
2010 12/17/2010 Conservatorship AEA Federal Credit Union Yuma Arizona Released
2014 09/30/2014 Involuntary Liquidation Republic Hose Employees Federal Credit Union Youngstown Ohio 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
2022 10/07/2022 Conservatorship Mingo County Education Federal Credit Union Williamson West Virginia Active
2022 11/15/2022 Involuntary Liquidation Mingo County Education Federal Credit Union Williamson West Virginia Closed
2009 02/13/2009 Involuntary Liquidation Center Valley Federal Credit Union Wheeling West Virginia Closed
2018 02/28/2018 Involuntary Liquidation First Jersey Credit Union Wayne New Jersey Closed
2017 04/20/2017 Conservatorship Community United Federal Credit Union Waycross Georgia Merged
2012 05/18/2012 Involuntary Liquidation Wausau Postal Employees Credit Union Wausau Wisconsin Closed
2015 07/10/2015 Involuntary Liquidation Trailblazer Federal Credit Union Washington Pennsylvania Closed
2016 03/04/2016 Involuntary Liquidation Education Associations Federal Credit Union Washington District of Columbia Closed
2010 10/31/2010 Involuntary Liquidation Members United Corporate Federal Credit Union Warrenville Illinois Closed
2018 02/23/2018 Conservatorship Ukrainian Future Credit Union Warren Michigan Merged
2010 11/30/2010 Involuntary Liquidation Constitution Corporate Federal Credit Union Wallingford Connecticut Closed
2012 01/06/2012 Merger With NCUA Assistance Kunia Federal Credit Union Waipahu Hawaii Merged
2009 09/30/2009 Involuntary Liquidation The Members' Own Federal Credit Union Victorville California Closed
2020 06/11/2020 Conservatorship Southern Pine Credit Union Valdosta Georgia Released
2012 07/27/2012 Conservatorship Trinity Credit Union Trinidad Colorado Merged
2010 04/27/2010 Involuntary Liquidation Tracy Federal Credit Union Tracy California Closed
2010 03/19/2010 Conservatorship Tracy Federal Credit Union Tracy California Closed
2009 12/31/2009 Involuntary Liquidation HeritageWest Federal Credit Union Tooele Utah Closed
2014 05/01/2014 Merger With NCUA Assistance Tombstone Federal Credit Union Tombstone Arizona Merged
2015 04/30/2015 Involuntary Liquidation TLC Federal Credit Union Tillamook Oregon Closed
2013 05/23/2013 Involuntary Liquidation Electrical Workers #527 Federal Credit Union Texas City Texas Closed
2012 08/09/2012 Involuntary Liquidation United Catholic Credit Union Temperance Michigan Closed
2015 09/24/2015 Involuntary Liquidation SWC Credit Union Tampa Florida Closed
2017 03/17/2017 Involuntary Liquidation Florida Conference AME Church (FCAMEC) Federal Credit Union Tallahassee Florida Closed
2019 03/29/2019 Involuntary Liquidation CBS Employees Federal Credit Union Studio City California Closed
2018 10/12/2018 Involuntary Liquidation Radio, Television and Communication Federal Credit Union Staten Island New York 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 12/31/2009 Merger With NCUA Assistance GCM Federal Credit Union St. Paul Minnesota Merged
2013 12/01/2013 Merger With NCUA Assistance S J H Employees' Credit Union Springfield Illinois Merged
2010 10/29/2010 Involuntary Liquidation The Union Credit Union Spokane Washington Closed
2017 11/30/2017 Merger With NCUA Assistance Eaton Employees Credit Union Spencer Iowa Merged
2017 04/13/2017 Conservatorship Shreveport Federal Credit Union Shreveport Louisiana Closed
2017 10/02/2017 Involuntary Liquidation Shreveport Federal Credit Union Shreveport Louisiana Closed
2010 08/31/2010 Merger With NCUA Assistance Table Rock Federal Credit Union Shell Knob Missouri Merged
2016 11/29/2016 Involuntary Liquidation First African Baptist Church Federal Credit Union Sharon Hill Pennsylvania Closed
2012 02/26/2012 Merger With NCUA Assistance H.B.E. Credit Union Seward Nebraska Merged
2013 05/31/2013 Voluntary Liquidation First Kingdom Community Federal Credit Union Selma Alabama Closed
2013 05/16/2013 Conservatorship First Kingdom Community Federal Credit Union Selma Alabama Closed
2017 12/04/2017 Involuntary Liquidation Riverdale Credit Union Selma Alabama Closed
2017 06/22/2017 Conservatorship Riverdale Credit Union Selma Alabama Closed
2015 10/01/2015 Merger With NCUA Assistance Northwest Baptist Credit Union Seattle Washington Merged
2015 02/01/2015 Merger With NCUA Assistance New Mexico Correctional Employees Federal Credit Union Santa Fe New Mexico Merged
2011 03/07/2011 Involuntary Liquidation Land of Enchantment Federal Credit Union Santa Fe New Mexico Closed
2010 02/26/2010 Involuntary Liquidation Mutual Diversified Employees Federal Credit Union Santa Ana California Closed
2009 05/06/2009 Merger With NCUA Assistance First American Credit Union Santa Ana California Merged
2011 04/08/2011 Involuntary Liquidation Mission San Francisco Federal Credit Union San Francisco California Closed
2012 07/06/2012 Involuntary Liquidation Western Bridge Corporate Federal Credit Union San Dimas California Closed
2010 10/01/2010 Involuntary Liquidation Western Corporate Federal Credit Union San Dimas California Closed
2010 06/25/2010 Conservatorship Arrowhead Credit Union San Bernardino California Released
2013 11/30/2013 Merger With NCUA Assistance Southside Credit Union San Antonio Texas Merged
2010 12/14/2010 Involuntary Liquidation Beehive Credit Union Salt Lake City Utah Closed
2011 04/29/2011 Involuntary Liquidation Utah Central Credit Union Salt Lake City Utah Closed
2010 06/30/2010 Involuntary Liquidation Southwest Community Federal Credit Union Saint George Utah Closed
2017 03/31/2017 Involuntary Liquidation Valley State Credit Union Saginaw Michigan Closed
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