Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Lynrocten FCU Closed By NCUA
ALEXANDRIA, Va. (5/6/13)--The National Credit Union Administration (NCUA) Friday liquidated Lynrocten FCU. The Lynchburg, Va., credit union had 1,068 members and about $13.8 million in assets, according to the agency.

The federal regulator made the decision to liquidate Lynrocten and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.

Lynrocten FCU is the sixth federally insured credit union liquidation in 2013. The credit union was chartered in 1936 and served the employees of Rock-Tenn Co. and their immediate family members.

Member deposits are federally insured by the National Credit Union Share Insurance Fund up to $250,000. NCUA's Asset Management and Assistance Center will issue correspondence to individuals holding verified share accounts in the credit union within one week.


RSS print
News Now LiveWire
If you got a tax refund, put some aside, #VisionsFCU financial specialist tells @WBNGActionNews http://t.co/TuHsbeNdzb
4 hours ago
.@CUNA staff bring back "Pressing Issues" quarterly conference calls http://t.co/7XQMpcIqD1 #CUNAComply
6 hours ago
Wis. @GovScottWalker signs #creditunion regulatory relief act, @WICULeague announces http://t.co/ELcxB0Xm71
6 hours ago
.@ChartwayFCU making kids' wishes come true at Toby's Dream Foundation. See #NewsNow Thursday.
7 hours ago
Heartbleed security threat is no match for @CUNA IT team http://t.co/YUxETsfoWh
8 hours ago