Skip to main content
United States flag An official website of the United States government
Official websites use .gov
A .gov website belongs to an official government organization in the United States.
Secure .gov websites use HTTPS
A lock () or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.
Show

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 1 - 12 of 260 Results
Year Date Type Credit Union Name City State Status
2009 01/01/2009 Merger With NCUA Assistance Bishop De Mazenod Federal Credit Union Houston Texas Merged
2009 01/01/2009 Merger With NCUA Assistance Channel Islands Federal Credit Union Oxnard California Merged
2009 02/13/2009 Involuntary Liquidation Center Valley Federal Credit Union Wheeling West Virginia Closed
2009 03/31/2009 Merger With NCUA Assistance Fort Snelling Federal Credit Union Minneapolis Minnesota Merged
2009 04/15/2009 Conservatorship Eastern Financial Federal Credit Union Miramar Florida Merged
2009 05/06/2009 Merger With NCUA Assistance First American Credit Union Santa Ana California Merged
2009 05/15/2009 Involuntary Liquidation Rouge Employees Credit Union Dearborn Michigan Closed
2009 06/10/2009 Merger With NCUA Assistance Norwood School Employees Federal Credit Union Norwood Massachusetts Merged
2009 06/18/2009 Involuntary Liquidation High Desert Federal Credit Union Apple Valley California Closed
2009 06/30/2009 Merger With NCUA Assistance Eastern Financial Credit Union Miramar Florida Merged
2009 07/01/2009 Merger With NCUA Assistance Electric Workers of #601 Credit Union Champaign Illinois Merged
2009 07/01/2009 Merger With NCUA Assistance Kabel Federal Credit Union Belpre Ohio Merged
1
2
3
...
21
22