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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
2009 10/28/2009 Involuntary Liquidation Second Baptist Church Credit Union Los Angeles California Closed
2009 11/13/2009 Involuntary Liquidation Ensign Federal Credit Union Henderson Nevada Closed
2009 11/30/2009 Involuntary Liquidation Fairfield County Ohio Federal Employees Federal Credit Union Lancaster Ohio Closed
2009 12/31/2009 Involuntary Liquidation HeritageWest Federal Credit Union Tooele Utah Closed
2010 01/08/2010 Involuntary Liquidation Kern Central Credit Union Bakersfield California Closed
2013 01/07/2013 Involuntary Liquidation New Covenant Missionary Baptist Church Credit Union Milwaukee Wisconsin Closed
2013 02/19/2013 Involuntary Liquidation Amez United Credit Union Detroit Michigan Closed
2013 03/15/2013 Involuntary Liquidation I.C.E. Federal Credit Union Inglewood California Closed
2013 03/15/2013 Involuntary Liquidation Pepsi Cola Federal Credit Union Buena Park California Closed
2013 04/12/2013 Involuntary Liquidation Shiloh of Alexandria Federal Credit Union Alexandria Virginia Closed
2013 05/03/2013 Involuntary Liquidation Lynrocten Federal Credit Union Lynchburg Virginia Closed
2013 05/23/2013 Involuntary Liquidation Electrical Workers #527 Federal Credit Union Texas City Texas Closed
2013 05/31/2013 Involuntary Liquidation NCP Community Development Federal Credit Union Norfolk Virginia Closed
2013 06/28/2013 Involuntary Liquidation Ochsner Clinic Federal Credit Union New Orleans Louisiana Closed
2010 07/31/2010 Involuntary Liquidation Certified Federal Credit Union Commerce California Closed
2010 08/03/2010 Involuntary Liquidation Kappa Alpha Psi Addison Texas Closed
2010 08/31/2010 Involuntary Liquidation First American Credit Union Beloit Wisconsin Closed
2010 09/13/2010 Involuntary Liquidation Industries Puerto Rico Federal Credit Union Manati Puerto Rico Closed
2010 10/18/2010 Involuntary Liquidation Phil-Pet Federal Credit Union Pampa Texas Closed
2010 10/29/2010 Involuntary Liquidation The Union Credit Union Spokane Washington Closed
2010 11/30/2010 Involuntary Liquidation Constitution Corporate Federal Credit Union Wallingford Connecticut Closed
2010 12/14/2010 Involuntary Liquidation Beehive Credit Union Salt Lake City Utah Closed
2011 02/04/2011 Involuntary Liquidation Oakland Municipal Credit Union Oakland California Closed
2011 02/15/2011 Involuntary Liquidation Family First Federal Credit Union Orem Utah Closed
2012 02/19/2012 Involuntary Liquidation People for People Community Development Credit Union (CDCU) Philadelphia Pennsylvania Closed
2012 01/27/2012 Involuntary Liquidation Eastern New York Federal Credit Union Napanoch New York Closed
2012 03/23/2012 Conservatorship Telesis Community Credit Union Chatsworth California Closed
2012 02/17/2012 Conservatorship A M Community Credit Union Kenosha Wisconsin Closed
2012 01/06/2012 Conservatorship People for People Community Development Credit Union (CDCU) Philadelphia Pennsylvania Closed
2012 10/29/2012 Involuntary Liquidation U.S. Central Bridge Corporate Federal Credit Union Lenexa Kansas Closed
2012 07/06/2012 Involuntary Liquidation Western Bridge Corporate Federal Credit Union San Dimas California Closed
2011 02/23/2011 Involuntary Liquidation NYC OTB Federal Credit Union New York New York Closed
2011 03/04/2011 Involuntary Liquidation Wisconsin Heights Credit Union Ogema Wisconsin Closed
2011 03/07/2011 Involuntary Liquidation Land of Enchantment Federal Credit Union Santa Fe New Mexico Closed
2011 04/08/2011 Involuntary Liquidation Mission San Francisco Federal Credit Union San Francisco California Closed
2011 04/29/2011 Involuntary Liquidation Utah Central Credit Union Salt Lake City Utah Closed
2011 05/18/2011 Involuntary Liquidation Hmong American Federal Credit Union St. Paul Minnesota Closed
2011 05/31/2011 Involuntary Liquidation Valued Members Federal Credit Union Jackson Mississippi Closed
2011 06/24/2011 Involuntary Liquidation St. James A.M.E. Federal Credit Union Newark New Jersey Closed
2011 07/08/2011 Involuntary Liquidation Borinquen Federal Credit Union Philadelphia Pennsylvania Closed
2011 07/11/2011 Involuntary Liquidation Vensure Federal Credit Union Mesa Arizona Closed
2011 11/30/2011 Involuntary Liquidation BCT Federal Credit Union Binghamton New York Closed
2011 12/02/2011 Involuntary Liquidation O.U.R. Federal Credit Union Eugene Oregon Closed
2014 12/12/2014 Involuntary Liquidation Health One Credit Union Detroit Michigan 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
2015 09/18/2015 Conservatorship Bethex Federal Credit Union Bronx New York Closed
2018 01/30/2018 Involuntary Liquidation St. Elizabeth’s Credit Union Chicago Illinois Closed
2018 02/28/2018 Involuntary Liquidation First Jersey Credit Union Wayne New Jersey Closed
2018 06/29/2018 Involuntary Liquidation Louisville Metro Police Officers Credit Union Louisville Kentucky Closed
2018 07/31/2018 Involuntary Liquidation Greater Christ Baptist Church Credit Union Detroit Michigan Closed
2018 08/31/2018 Involuntary Liquidation Melrose Credit Union Briarwood New York Closed
2018 09/30/2018 Involuntary Liquidation LOMTO Federal Credit Union Woodside New York Closed
2018 10/12/2018 Involuntary Liquidation Radio, Television and Communication Federal Credit Union Staten Island New York Closed
2016 04/05/2016 Involuntary Liquidation Electrical Inspectors Federal Credit Union Bensalem Pennsylvania Closed
2016 04/05/2016 Involuntary Liquidation Chester Upland School Employees Federal Credit Union Chester Pennsylvania Closed
2016 04/05/2016 Involuntary Liquidation Cardozo Lodge Federal Credit Union Bensalem Pennsylvania Closed
2016 11/29/2016 Involuntary Liquidation First African Baptist Church Federal Credit Union Sharon Hill Pennsylvania Closed
2017 02/10/2017 Conservatorship Melrose Credit Union Briarwood New York Closed
2017 04/13/2017 Conservatorship Shreveport Federal Credit Union Shreveport Louisiana Closed