Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NCUA Shutters Two Small CUs
ALEXANDRIA, Va. (3/18/13)--The National Credit Union Administration on Friday liquidated two troubled small credit unions: I.C.E. FCU, Inglewood, Calif., and Pepsi Cola FCU, Buena Park, Calif.

The agency in separate releases said it moved to liquidate the credit unions after it determined that both were insolvent and had no prospects for restoring viable operations.

The 942 member, $3.4 million-in-asset I.C.E. FCU was chartered in 1939 and served Inglewood city employees and their families.

Pepsi Cola FCU, chartered in 1956, served 558 members and held $652,000 in assets, the NCUA said. The credit union served employees of the Pepsi Cola Bottling Co.

The credit unions represented the third and fourth credit unions to be liquidated in 2013.

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

For more, use the resource link.
RSS print
News Now LiveWire
Why is a #creditunion a good fit for you? http://t.co/i4pGT98mkT via @MONEY
10 hours ago
The numbers are in: Home Depot data breach impact on #creditunions = $57.4 million, 7.2 million credit/debit cards http://t.co/jorYSOYuxj
11 hours ago
.@Nussle : We'll back off when retailers accept their breach responsibility #NewsNow http://t.co/7WxDXicb6j
13 hours ago
RT @asmarterchoice: RT @daily_finance: Top 5 money management tips for 30-somethings http://t.co/mWRfDRSTE7
14 hours ago
Operational efficiencies focus of new @CUNA program #NewsNow http://t.co/qBYHKVYeQN
14 hours ago