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 1 - 60 of 256 Results
Year Date Type Credit Union Name City State Status
2021 01/05/2021 Conservatorship C O Federal Credit Union Charleston South Carolina Active
2022 10/07/2022 Conservatorship Mingo County Education Federal Credit Union Williamson West Virginia Active
2022 12/12/2022 Conservatorship Richmond City Employees Federal Credit Union Richmond Indiana Active
2021 05/24/2021 Conservatorship Empire Financial Federal Credit Union Jackson New Jersey Active
2022 10/07/2022 Conservatorship O.F. Toalston Federal Credit Union Logan West Virginia Active
2021 03/26/2021 Conservatorship Edinburg Teachers Credit Union Edinburg Texas Active
2021 11/05/2021 Conservatorship Pomona Postal Federal Credit Union Pomona California Active
2023 01/20/2023 Conservatorship Valwood Park Federal Credit Union Carrollton Texas Active
2018 10/12/2018 Involuntary Liquidation Radio, Television and Communication Federal Credit Union Staten Island New York Closed
2016 04/05/2016 Involuntary Liquidation Servco Federal Credit Union Bensalem Pennsylvania Closed
2021 01/14/2021 Conservatorship Indianapolis’ Newspaper Federal Credit Union Indianapolis Indiana Closed
2011 10/27/2011 Conservatorship Birmingham Financial Federal Credit Union Birmingham Alabama Closed
2010 10/29/2010 Involuntary Liquidation The Union Credit Union Spokane Washington Closed
2010 02/26/2010 Involuntary Liquidation Mutual Diversified Employees Federal Credit Union Santa Ana California Closed
2010 07/30/2010 Conservatorship Family First Federal Credit Union Orem Utah Closed
2009 12/31/2009 Involuntary Liquidation Allied Tube Employees Federal Credit Union Harvey Illinois Closed
2014 12/12/2014 Involuntary Liquidation Health One Credit Union Detroit Michigan Closed
2013 05/31/2013 Voluntary Liquidation First Kingdom Community Federal Credit Union Selma Alabama Closed
2012 05/18/2012 Involuntary Liquidation Wausau Postal Employees Credit Union Wausau Wisconsin Closed
2011 05/31/2011 Involuntary Liquidation Valued Members Federal Credit Union Jackson Mississippi Closed
2010 12/14/2010 Involuntary Liquidation Beehive Credit Union Salt Lake City Utah Closed
2010 11/30/2010 Involuntary Liquidation Constitution Corporate Federal Credit Union Wallingford Connecticut Closed
2010 06/30/2010 Involuntary Liquidation Southwest Community Federal Credit Union Saint George Utah Closed
2010 06/09/2010 Involuntary Liquidation Orange County Employees Credit Union Orange Texas Closed
2021 07/01/2021 Involuntary Liquidation Defense Logistics Federal Credit Union Dover New Jersey Closed
2022 03/04/2022 Involuntary Liquidation Empire Financial Federal Credit Union New York New York Closed
2013 07/01/2013 Involuntary Liquidation PEF Federal Credit Union Highland Heights Ohio Closed
2013 05/03/2013 Involuntary Liquidation Lynrocten Federal Credit Union Lynchburg Virginia Closed
2012 10/29/2012 Involuntary Liquidation U.S. Central Bridge Corporate Federal Credit Union Lenexa Kansas Closed
2012 01/27/2012 Involuntary Liquidation Eastern New York Federal Credit Union Napanoch New York Closed
2011 02/23/2011 Involuntary Liquidation NYC OTB Federal Credit Union New York New York Closed
2010 10/18/2010 Involuntary Liquidation Phil-Pet Federal Credit Union Pampa Texas Closed
2010 07/29/2010 Involuntary Liquidation Norbel Credit Union Fort Collins Colorado Closed
2009 12/31/2009 Involuntary Liquidation HeritageWest Federal Credit Union Tooele Utah Closed
2013 05/16/2013 Conservatorship First Kingdom Community Federal Credit Union Selma Alabama Closed
2011 06/24/2011 Conservatorship O.U.R Federal Credit Union Eugene Oregon Closed
2015 12/29/2015 Involuntary Liquidation First Hawaiian Homes Federal Credit Union Hoolehua Hawaii Closed
2015 09/24/2015 Involuntary Liquidation SWC Credit Union Tampa Florida Closed
2015 08/28/2015 Involuntary Liquidation SCICAP Credit Union Chariton Iowa Closed
2015 01/30/2015 Involuntary Liquidation American Bakery Workers Federal Credit Union Philadelphia Pennsylvania Closed
2014 03/21/2014 Involuntary Liquidation Parsons Pittsburg Credit Union Parsons Kansas Closed
2013 05/31/2013 Involuntary Liquidation NCP Community Development Federal Credit Union Norfolk Virginia Closed
2013 03/15/2013 Involuntary Liquidation I.C.E. Federal Credit Union Inglewood California Closed
2012 07/06/2012 Involuntary Liquidation Western Bridge Corporate Federal Credit Union San Dimas California Closed
2012 10/31/2012 Involuntary Liquidation Women’s Southwest Federal Credit Union Dallas Texas Closed
2010 08/03/2010 Involuntary Liquidation Kappa Alpha Psi Addison Texas Closed
2010 07/31/2010 Involuntary Liquidation Certified Federal Credit Union Commerce California Closed
2009 02/13/2009 Involuntary Liquidation Center Valley Federal Credit Union Wheeling West Virginia Closed
2013 11/22/2013 Involuntary Liquidation Polish Combatants Credit Union Bedford Ohio Closed
2011 12/02/2011 Involuntary Liquidation O.U.R. Federal Credit Union Eugene Oregon Closed
2009 11/13/2009 Involuntary Liquidation Ensign Federal Credit Union Henderson Nevada Closed
2015 07/10/2015 Involuntary Liquidation Trailblazer Federal Credit Union Washington Pennsylvania Closed
2010 10/01/2010 Involuntary Liquidation U.S. Central Federal Credit Union Lenexa Kansas Closed
2017 03/31/2017 Involuntary Liquidation Valley State Credit Union Saginaw Michigan Closed
2017 03/17/2017 Involuntary Liquidation Florida Conference AME Church (FCAMEC) Federal Credit Union Tallahassee Florida Closed
2015 11/20/2015 Involuntary Liquidation Helping Other People Excel Federal Credit Union Jackson New Jersey Closed
2015 03/31/2015 Involuntary Liquidation North Dade Community Development Federal Credit Union Miami Gardens Florida Closed
2013 02/08/2013 Conservatorship NCP Community Development Federal Credit Union Norfolk Virginia Closed
2018 01/30/2018 Involuntary Liquidation St. Elizabeth’s Credit Union Chicago Illinois Closed
2016 11/29/2016 Involuntary Liquidation First African Baptist Church Federal Credit Union Sharon Hill Pennsylvania Closed