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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 61 - 120 of 261 Results
Year Date Type Credit Union Name City State Status
2013 12/01/2013 Merger With NCUA Assistance S J H Employees' Credit Union Springfield Illinois Merged
2009 05/15/2009 Involuntary Liquidation Rouge Employees Credit Union Dearborn Michigan Closed
2017 06/22/2017 Conservatorship Riverdale Credit Union Selma Alabama Closed
2017 12/04/2017 Involuntary Liquidation Riverdale Credit Union Selma Alabama Closed
2022 12/12/2022 Conservatorship Richmond City Employees Federal Credit Union Richmond Indiana Merged
2023 04/03/2023 Involuntary Liquidation Richmond City Employees Federal Credit Union Richmond Indiana Merged
2014 09/30/2014 Involuntary Liquidation Republic Hose Employees Federal Credit Union Youngstown Ohio Closed
2018 10/12/2018 Involuntary Liquidation Radio, Television and Communication Federal Credit Union Staten Island New York Closed
2015 09/30/2015 Merger With NCUA Assistance Quemado Federal Credit Union Quemado Texas Merged
2021 12/30/2021 Involuntary Liquidation Portsmouth Schools Federal Credit Union Portsmouth Virginia Closed
2021 11/05/2021 Conservatorship Pomona Postal Federal Credit Union Pomona California Merged
2022 01/03/2022 Involuntary Liquidation Pomona Postal Federal Credit Union Pomona California Merged
2013 11/22/2013 Involuntary Liquidation Polish Combatants Credit Union Bedford Ohio Closed
2010 01/06/2010 Merger With NCUA Assistance Phillips County Self-Help Federal Credit Union Helena Arkansas Merged
2010 10/18/2010 Involuntary Liquidation Phil-Pet Federal Credit Union Pampa Texas Closed
2013 03/15/2013 Involuntary Liquidation Pepsi Cola Federal Credit Union Buena Park California Closed
2012 02/19/2012 Involuntary Liquidation People for People Community Development Credit Union (CDCU) Philadelphia Pennsylvania Closed
2012 01/06/2012 Conservatorship People for People Community Development Credit Union (CDCU) Philadelphia Pennsylvania Closed
2014 01/24/2014 Conservatorship Parsons Pittsburg Credit Union Parsons Kansas Closed
2014 03/21/2014 Involuntary Liquidation Parsons Pittsburg Credit Union Parsons Kansas Closed
2022 09/30/2022 Involuntary Liquidation Paducah Teachers Federal Credit Union Paducah Kentucky Closed
2013 07/01/2013 Involuntary Liquidation PEF Federal Credit Union Highland Heights Ohio Closed
2013 06/21/2013 Conservatorship PEF Federal Credit Union Highland Heights Ohio Closed
2010 06/09/2010 Involuntary Liquidation Orange County Employees Credit Union Orange Texas Closed
2012 12/17/2012 Involuntary Liquidation Olean Federal Credit Union Olean New York Closed
2014 03/31/2014 Merger With NCUA Assistance Oldham Family Alliance Federal Credit Union Baltimore Maryland Merged
2013 06/28/2013 Involuntary Liquidation Ochsner Clinic Federal Credit Union New Orleans Louisiana Closed
2011 02/04/2011 Involuntary Liquidation Oakland Municipal Credit Union Oakland California Closed
2011 12/02/2011 Involuntary Liquidation O.U.R. Federal Credit Union Eugene Oregon Closed
2011 06/24/2011 Conservatorship O.U.R Federal Credit Union Eugene Oregon Closed
2022 10/07/2022 Conservatorship O.F. Toalston Federal Credit Union Logan West Virginia Closed
2022 11/15/2022 Involuntary Liquidation O.F. Toalston Federal Credit Union Logan West Virginia Closed
2016 04/05/2016 Involuntary Liquidation O P S EMP Federal Credit Union Bensalem Pennsylvania Closed
2009 06/10/2009 Merger With NCUA Assistance Norwood School Employees Federal Credit Union Norwood Massachusetts Merged
2015 10/01/2015 Merger With NCUA Assistance Northwest Baptist Credit Union Seattle Washington Merged
2015 03/31/2015 Involuntary Liquidation North Dade Community Development Federal Credit Union Miami Gardens Florida Closed
2010 07/29/2010 Involuntary Liquidation Norbel Credit Union Fort Collins Colorado Closed
2017 10/27/2017 Involuntary Liquidation New York State Employees Federal Credit Union New York New York Closed
2015 02/01/2015 Merger With NCUA Assistance New Mexico Correctional Employees Federal Credit Union Santa Fe New Mexico Merged
2009 07/22/2009 Conservatorship New Hope Community Development Federal Credit Union Birmingham Alabama Merged
2013 01/07/2013 Involuntary Liquidation New Covenant Missionary Baptist Church Credit Union Milwaukee Wisconsin Closed
2015 08/05/2015 Voluntary Liquidation New Bethel Federal Credit Union Portsmouth Virginia Closed
2015 04/30/2015 Conservatorship New Bethel Federal Credit Union Portsmouth Virginia Closed
2011 02/23/2011 Involuntary Liquidation NYC OTB Federal Credit Union New York New York Closed
2013 02/08/2013 Conservatorship NCP Community Development Federal Credit Union Norfolk Virginia Closed
2013 05/31/2013 Involuntary Liquidation NCP Community Development Federal Credit Union Norfolk Virginia Closed
2010 02/26/2010 Involuntary Liquidation Mutual Diversified Employees Federal Credit Union Santa Ana California Closed
2019 05/17/2019 Conservatorship Municipal Credit Union New York New York Released
2015 04/23/2015 Conservatorship Montgomery County Credit Union Dayton Ohio Merged
2015 09/18/2015 Conservatorship Montauk Credit Union New York New York Merged
2011 04/08/2011 Involuntary Liquidation Mission San Francisco Federal Credit Union San Francisco California Closed
2022 10/07/2022 Conservatorship Mingo County Education Federal Credit Union Williamson West Virginia Closed
2022 11/15/2022 Involuntary Liquidation Mingo County Education Federal Credit Union Williamson West Virginia Closed
2016 02/24/2016 Involuntary Liquidation Mildred Mitchell-Bateman Hospital Federal Credit Union Huntington West Virginia Closed
2019 04/23/2019 Conservatorship Mid East Tennessee Community Credit Union Decatur Tennessee Merged
2014 12/03/2014 Involuntary Liquidation Metropolitan Church of God Credit Union Detroit Michigan Closed
2010 10/31/2010 Involuntary Liquidation Members United Corporate Federal Credit Union Warrenville Illinois 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
2013 11/01/2013 Conservatorship Mayfair Federal Credit Union Philadelphia Pennsylvania Closed