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 241 - 256 of 256 Results
Year Date Type Credit Union Name City State Status
2010 12/14/2010 Involuntary Liquidation Beehive Credit Union Salt Lake City Utah Closed
2018 10/01/2018 Merger With NCUA Assistance Bay Ridge Federal Credit Union Brooklyn New York Merged
2014 01/21/2014 Voluntary Liquidation Bagumbayan Credit Union Chicago Illinois Closed
2013 12/12/2013 Conservatorship Bagumbayan Credit Union Chicago Illinois Closed
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 06/25/2010 Conservatorship Arrowhead Credit Union San Bernardino California Released
2016 11/01/2016 Merger With NCUA Assistance Anchor Seven Federal Credit Union Jacksonville Florida Merged
2013 02/19/2013 Involuntary Liquidation Amez United Credit Union Detroit Michigan Closed
2015 01/30/2015 Involuntary Liquidation American Bakery Workers Federal Credit Union Philadelphia Pennsylvania Closed
2009 12/31/2009 Involuntary Liquidation Allied Tube Employees Federal Credit Union Harvey Illinois Closed
2010 12/17/2010 Conservatorship AEA Federal Credit Union Yuma Arizona Released
2010 04/30/2010 Merger With NCUA Assistance A.L. Bratcher Federal Credit Union Bessemer Alabama Merged
2012 08/01/2012 Involuntary Liquidation A M Community Credit Union Kenosha Wisconsin Closed
2012 02/17/2012 Conservatorship A M Community Credit Union Kenosha Wisconsin Closed
2015 07/01/2015 Merger With NCUA Assistance 65 Family Federal Credit Union New York New York Merged