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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 241 - 260 of 260 Results
Year Date Type Credit Union Name City State Status
2009 07/22/2009 Conservatorship New Hope Community Development Federal Credit Union Birmingham Alabama Merged
2011 06/10/2011 Conservatorship BCT Federal Credit Union Binghamton New York Closed
2011 11/30/2011 Involuntary Liquidation BCT Federal Credit Union Binghamton New York Closed
2010 04/30/2010 Merger With NCUA Assistance A.L. Bratcher Federal Credit Union Bessemer Alabama Merged
2016 04/05/2016 Involuntary Liquidation Electrical Inspectors Federal Credit Union Bensalem Pennsylvania Closed
2016 04/05/2016 Involuntary Liquidation Cardozo Lodge Federal Credit Union Bensalem Pennsylvania Closed
2016 04/05/2016 Involuntary Liquidation Triangle Interests % Service Center Federal Credit Union Bensalem Pennsylvania Closed
2016 04/05/2016 Involuntary Liquidation Servco Federal Credit Union Bensalem Pennsylvania Closed
2016 04/05/2016 Involuntary Liquidation O P S EMP Federal Credit Union Bensalem Pennsylvania Closed
2009 07/01/2009 Merger With NCUA Assistance Kabel Federal Credit Union Belpre Ohio Merged
2010 08/31/2010 Involuntary Liquidation First American Credit Union Beloit Wisconsin Closed
2013 11/22/2013 Involuntary Liquidation Polish Combatants Credit Union Bedford Ohio Closed
2020 05/29/2020 Involuntary Liquidation IBEW Local Union 712 Federal Credit Union Beaver Pennsylvania Closed
2014 03/31/2014 Merger With NCUA Assistance Oldham Family Alliance Federal Credit Union Baltimore Maryland Merged
2010 01/08/2010 Involuntary Liquidation Kern Central Credit Union Bakersfield California Closed
2009 06/18/2009 Involuntary Liquidation High Desert Federal Credit Union Apple Valley California Closed
2016 01/01/2016 Merger With NCUA Assistance Community Trust Federal Credit Union Apopka Florida Merged
2013 04/12/2013 Involuntary Liquidation Shiloh of Alexandria Federal Credit Union Alexandria Virginia Closed
2010 08/03/2010 Involuntary Liquidation Kappa Alpha Psi Addison Texas Closed
2010 09/01/2010 Merger With NCUA Assistance East Central Federal Credit Union N/A N/A Merged