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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 181 - 240 of 260 Results
Year Date Type Credit Union Name City State Status
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 06/24/2011 Conservatorship O.U.R Federal Credit Union Eugene Oregon Closed
2010 10/31/2010 Involuntary Liquidation Southwest Corporate Federal Credit Union Plano Texas Closed
2010 10/31/2010 Involuntary Liquidation Members United Corporate Federal Credit Union Warrenville Illinois Closed
2010 08/31/2010 Merger With NCUA Assistance Table Rock Federal Credit Union Shell Knob Missouri Merged
2010 06/30/2010 Merger With NCUA Assistance First Delta Federal Credit Union Marks Mississippi Merged
2010 05/01/2010 Merger With NCUA Assistance Liberty Alliance Federal Credit Union Lexington Kentucky Merged
2010 04/30/2010 Merger With NCUA Assistance A.L. Bratcher Federal Credit Union Bessemer Alabama Merged
2010 04/30/2010 Merger With NCUA Assistance Bethel G.T. Federal Credit Union Jamaica New York Merged
2010 03/01/2010 Merger With NCUA Assistance Community Choice Federal Credit Union Indianapolis Indiana Merged
2010 02/02/2010 Merger With NCUA Assistance Bestwall Brunswick Federal Credit Union Brunswick Georgia Merged
2010 12/17/2010 Conservatorship AEA Federal Credit Union Yuma Arizona Released
2010 07/30/2010 Conservatorship Family First Federal Credit Union Orem Utah Closed
2010 06/25/2010 Conservatorship Arrowhead Credit Union San Bernardino California Released
2010 03/23/2010 Conservatorship St. Paul's Croatian Federal Credit Union Eastlake Ohio Closed
2010 03/19/2010 Conservatorship Tracy Federal Credit Union Tracy California Closed
2010 01/06/2010 Merger With NCUA Assistance Phillips County Self-Help Federal Credit Union Helena Arkansas Merged
2010 01/01/2010 Merger With NCUA Assistance Coastal Waters Federal Credit Union Mobile Alabama Merged
2010 02/25/2010 Involuntary Liquidation Friendship Community Federal Credit Union Clarksdale Mississippi Closed
2010 02/26/2010 Involuntary Liquidation Mutual Diversified Employees Federal Credit Union Santa Ana California Closed
2010 03/05/2010 Involuntary Liquidation Lawrence County School Employees Federal Credit Union New Castle Pennsylvania Closed
2010 04/08/2010 Involuntary Liquidation South End Mutual Benefit Association, Inc. Bloomfield Connecticut Closed
2010 04/27/2010 Involuntary Liquidation Tracy Federal Credit Union Tracy California 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 01/08/2010 Involuntary Liquidation Kern Central Credit Union Bakersfield California 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
2010 10/01/2010 Involuntary Liquidation U.S. Central Federal Credit Union Lenexa Kansas Closed
2010 10/01/2010 Involuntary Liquidation Western Corporate Federal Credit Union San Dimas California Closed
2010 09/01/2010 Merger With NCUA Assistance East Central Federal Credit Union N/A N/A Merged
2009 02/13/2009 Involuntary Liquidation Center Valley Federal Credit Union Wheeling West Virginia Closed
2009 03/31/2009 Merger With NCUA Assistance Fort Snelling Federal Credit Union Minneapolis Minnesota Merged
2009 01/01/2009 Merger With NCUA Assistance Bishop De Mazenod Federal Credit Union Houston Texas Merged
2009 09/24/2009 Conservatorship Keys Federal Credit Union Key West Florida Released
2009 01/01/2009 Merger With NCUA Assistance Channel Islands Federal Credit Union Oxnard California Merged
2009 12/31/2009 Merger With NCUA Assistance GCM Federal Credit Union St. Paul Minnesota Merged
2009 12/17/2009 Merger With NCUA Assistance First Service Credit Union Milwaukee Wisconsin Merged
2009 08/31/2009 Merger With NCUA Assistance First Security Credit Union Elm Grove Wisconsin Merged
2009 08/24/2009 Merger With NCUA Assistance Service Plus Credit Union Riverside California Merged
2009 07/01/2009 Merger With NCUA Assistance Electric Workers of #601 Credit Union Champaign Illinois Merged
2009 07/01/2009 Merger With NCUA Assistance Kabel Federal Credit Union Belpre Ohio Merged
2009 06/30/2009 Merger With NCUA Assistance Eastern Financial Credit Union Miramar Florida Merged