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 121 - 180 of 257 Results
Year Date Type Credit Union Name City State Status
2011 07/22/2011 Conservatorship Saguache County Credit Union Moffat Colorado Closed
2011 09/23/2011 Conservatorship Chetco Federal Credit Union Harbor Oregon Closed
2011 10/27/2011 Conservatorship Birmingham Financial Federal Credit Union Birmingham Alabama Closed
2012 12/31/2012 Involuntary Liquidation Chetco Federal Credit Union Harbor Oregon Closed
2012 12/17/2012 Involuntary Liquidation Olean Federal Credit Union Olean New York Closed
2012 12/13/2012 Involuntary Liquidation G.I.C. Federal Credit Union Euclid Ohio Closed
2012 11/30/2012 Involuntary Liquidation Border Lodge Credit Union Derby Vermont Closed
2010 04/30/2010 Involuntary Liquidation St. Paul's Croatian Federal Credit Union Eastlake Ohio Closed
2010 05/17/2010 Involuntary Liquidation Convent Federal Credit Union New York New York Closed
2010 06/09/2010 Involuntary Liquidation Orange County Employees Credit Union Orange Texas Closed
2010 06/30/2010 Involuntary Liquidation Southwest Community Federal Credit Union Saint George Utah Closed
2010 07/29/2010 Involuntary Liquidation Norbel Credit Union Fort Collins Colorado 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
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
2011 12/19/2011 Involuntary Liquidation Birmingham Financial Federal Credit Union Birmingham Alabama Closed
2011 04/15/2011 Conservatorship Vensure Federal Credit Union Mesa Arizona Closed
2011 05/04/2011 Conservatorship Valued Members Federal Credit Union Jackson Mississippi Closed
2011 05/04/2011 Conservatorship Hmong American Federal Credit Union St. Paul Minnesota 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
2011 02/23/2011 Involuntary Liquidation NYC OTB Federal Credit Union New York New York Closed
2015 09/24/2015 Involuntary Liquidation SWC Credit Union Tampa Florida Closed
2015 11/20/2015 Involuntary Liquidation Helping Other People Excel Federal Credit Union Jackson New Jersey Closed
2015 12/01/2015 Involuntary Liquidation Greater Abyssinia Federal Credit Union Cleveland Ohio Closed
2015 12/18/2015 Involuntary Liquidation Bethex Federal Credit Union Bronx New York Closed
2015 12/29/2015 Involuntary Liquidation First Hawaiian Homes Federal Credit Union Hoolehua Hawaii Closed
2016 11/09/2016 Conservatorship Valley State Credit Union Saginaw Michigan Closed
2016 02/05/2016 Involuntary Liquidation CTK Credit Union Milwaukee Wisconsin Closed
2016 02/24/2016 Involuntary Liquidation Mildred Mitchell-Bateman Hospital Federal Credit Union Huntington West Virginia Closed
2016 03/04/2016 Involuntary Liquidation Education Associations Federal Credit Union Washington District of Columbia Closed
2016 03/29/2016 Involuntary Liquidation Veterans Health Administration Credit Union Detroit Michigan Closed
2014 01/24/2014 Conservatorship Parsons Pittsburg Credit Union Parsons Kansas Closed
2014 05/16/2014 Conservatorship Health One Credit Union Detroit Michigan Closed
2014 01/21/2014 Voluntary Liquidation Bagumbayan Credit Union Chicago Illinois Closed
2014 02/14/2014 Involuntary Liquidation St. Francis Campus Credit Union Little Falls Minnesota Closed
2014 03/21/2014 Involuntary Liquidation Parsons Pittsburg Credit Union Parsons Kansas Closed
2014 03/31/2014 Involuntary Liquidation Mayfair Federal Credit Union Philadelphia Pennsylvania Closed
2014 05/23/2014 Involuntary Liquidation Life Line Credit Union Richmond Virginia Closed
2014 07/10/2014 Involuntary Liquidation IBEW Local 816 Federal Credit Union Paducah Kentucky Closed
2014 09/05/2014 Involuntary Liquidation Louden Depot Community Credit Union Fairfield Iowa Closed
2014 09/30/2014 Involuntary Liquidation Republic Hose Employees Federal Credit Union Youngstown Ohio Closed
2014 10/10/2014 Involuntary Liquidation County & Municipal Employees Credit Union Edinburg Texas Closed
2014 12/03/2014 Involuntary Liquidation Metropolitan Church of God Credit Union Detroit Michigan Closed