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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 181 - 240 of 261 Results
Year Date Type Credit Union Name City State Status
2009 09/30/2009 Involuntary Liquidation West Texas Credit Union El Paso Texas Closed
2017 08/31/2017 Merger With NCUA Assistance MADCO Credit Union Edwardsville Illinois Merged
2014 10/10/2014 Involuntary Liquidation County & Municipal Employees Credit Union Edinburg Texas Closed
2021 03/26/2021 Conservatorship Edinburg Teachers Credit Union Edinburg Texas Released
2023 01/27/2023 Conservatorship Edinburg Teachers Credit Union Edinburg Texas Released
2010 03/23/2010 Conservatorship St. Paul's Croatian Federal Credit Union Eastlake Ohio Closed
2010 04/30/2010 Involuntary Liquidation St. Paul's Croatian Federal Credit Union Eastlake Ohio Closed
2012 09/04/2012 Merger With NCUA Assistance CR Community First Eagle Butte South Dakota Merged
2021 07/01/2021 Involuntary Liquidation Defense Logistics Federal Credit Union Dover New Jersey Closed
2017 06/23/2017 Conservatorship Citizens Community Credit Union Devils Lake North Dakota Merged
2013 09/06/2013 Involuntary Liquidation Craftsman Credit Union Detroit Michigan Closed
2013 02/19/2013 Involuntary Liquidation Amez United Credit Union Detroit Michigan Closed
2014 12/12/2014 Involuntary Liquidation Health One Credit Union Detroit Michigan Closed
2018 07/31/2018 Involuntary Liquidation Greater Christ Baptist Church Credit Union Detroit Michigan Closed
2016 03/29/2016 Involuntary Liquidation Veterans Health Administration Credit Union Detroit Michigan Closed
2014 05/16/2014 Conservatorship Health One Credit Union Detroit Michigan Closed
2014 12/03/2014 Involuntary Liquidation Metropolitan Church of God Credit Union Detroit Michigan Closed
2012 11/30/2012 Involuntary Liquidation Border Lodge Credit Union Derby Vermont Closed
2011 05/11/2011 Merger With NCUA Assistance South DeKalb Church Federal Credit Union Decatur Georgia Merged
2014 08/31/2014 Merger With NCUA Assistance Macon County School Employees Federal Credit Union Decatur Illinois Merged
2019 04/23/2019 Conservatorship Mid East Tennessee Community Credit Union Decatur Tennessee Merged
2009 05/15/2009 Involuntary Liquidation Rouge Employees Credit Union Dearborn Michigan Closed
2015 04/23/2015 Conservatorship Montgomery County Credit Union Dayton Ohio Merged
2012 10/31/2012 Involuntary Liquidation Women’s Southwest Federal Credit Union Dallas Texas Closed
2017 11/30/2017 Merger With NCUA Assistance Good Street Baptist Church Federal Credit Union Dallas Texas Merged
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
2010 07/31/2010 Involuntary Liquidation Certified Federal Credit Union Commerce California Closed
2016 09/01/2016 Merger With NCUA Assistance Cory Methodist Church Credit Union Cleveland Ohio Merged
2013 07/15/2013 Involuntary Liquidation Taupa Lithuanian Credit Union Cleveland Ohio Closed
2015 12/01/2015 Involuntary Liquidation Greater Abyssinia Federal Credit Union Cleveland Ohio Closed
2016 02/04/2016 Conservatorship Cory Methodist Church Credit Union Cleveland Ohio Merged
2016 01/13/2016 Conservatorship Clarkston Brandon Community Credit Union Clarkston Michigan Merged
2010 02/25/2010 Involuntary Liquidation Friendship Community Federal Credit Union Clarksdale Mississippi Closed
2013 12/12/2013 Conservatorship Bagumbayan Credit Union Chicago Illinois Closed
2018 03/14/2018 Conservatorship Beverly Bus Garage Federal Credit Union Chicago Illinois Merged
2018 01/30/2018 Involuntary Liquidation St. Elizabeth’s Credit Union Chicago Illinois Closed
2014 01/21/2014 Voluntary Liquidation Bagumbayan Credit Union Chicago Illinois Closed
2016 04/05/2016 Involuntary Liquidation Chester Upland School Employees Federal Credit Union Chester Pennsylvania Closed
2012 06/01/2012 Involuntary Liquidation Telesis Community Credit Union Chatsworth California Closed
2012 03/23/2012 Conservatorship Telesis Community Credit Union Chatsworth California Closed
2012 03/26/2012 Involuntary Liquidation Shepherd's Federal Credit Union Charlotte North Carolina Closed
2021 09/17/2021 Involuntary Liquidation C O Federal Credit Union Charleston South Carolina Closed
2021 01/05/2021 Conservatorship C O Federal Credit Union Charleston South Carolina Closed
2015 08/28/2015 Involuntary Liquidation SCICAP Credit Union Chariton Iowa Closed
2009 07/01/2009 Merger With NCUA Assistance Electric Workers of #601 Credit Union Champaign Illinois Merged
2023 01/20/2023 Conservatorship Valwood Park Federal Credit Union Carrollton Texas Active
2013 08/05/2013 Merger With NCUA Assistance Greater Oregon Federal Credit Union Burns Oregon Merged
2013 03/15/2013 Involuntary Liquidation Pepsi Cola Federal Credit Union Buena Park California Closed
2010 02/02/2010 Merger With NCUA Assistance Bestwall Brunswick Federal Credit Union Brunswick Georgia Merged
2018 10/01/2018 Merger With NCUA Assistance Bay Ridge Federal Credit Union Brooklyn New York Merged
2023 03/08/2023 Involuntary Liquidation Inter-American Federal Credit Union Brooklyn New York Closed
2017 07/31/2017 Merger With NCUA Assistance Love Gospel Assembly Federal Credit Union Bronx New York Merged
2015 09/18/2015 Conservatorship Bethex Federal Credit Union Bronx New York Closed
2015 12/18/2015 Involuntary Liquidation Bethex Federal Credit Union Bronx New York Closed
2018 08/31/2018 Involuntary Liquidation Melrose Credit Union Briarwood New York Closed
2017 02/10/2017 Conservatorship Melrose Credit Union Briarwood New York Closed
2010 04/08/2010 Involuntary Liquidation South End Mutual Benefit Association, Inc. Bloomfield Connecticut Closed
2011 12/19/2011 Involuntary Liquidation Birmingham Financial Federal Credit Union Birmingham Alabama Closed
2011 10/27/2011 Conservatorship Birmingham Financial Federal Credit Union Birmingham Alabama Closed