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Washington
NCUA closes Comunidades FCU accounts assumed
ALEXANDRIA, Va. (9/23/09)— Water and Power Community CU Union of Los Angeles assumed the majority of the accounts of Comunidades FCU, also of Los Angeles, which was closed Tuesday by federal regulators. The Water and Power Community Credit Union share assumption, approved by the National Credit Union Administration (NCUA), assures that a majority of Comunidades members continue with uninterrupted credit union service. The NCUA said it closed Comunidades, a low-income commcredit union, because of a declining financial condition. It had $658,122 in assets and served 1,141 members. It is the sixth federally insured credit union liquidation in 2009. Water and Power Community CU, a full service institution, has $482.9 million in assets and serves approximately 52,340 members in and around the state of California, according to the NCUA. Its headquarters is located at 1053 W. Sunset Blvd., Los Angeles, California, and it has 6 branch locations and offers online transaction service as well.


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