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News Now

Washington
NCUA closes Nev.-based Ensign FCU
ALEXANDRIA, Va. (9/25/09)--The National Credit Union Administration (NCUA) on Friday closed 7,900-member and $98 million-in-assets Ensign FCU of Henderson, Nevada. According to an NCUA release, Plano, Texas’s EDS CU has purchased and assumed Ensign FCU’s member share accounts, and former Ensign FCU members will “continue to receive uninterrupted credit union service.” EDS CU holds $772 million in assets from 57,000 members in several states nationwide. The NCUA closed Ensign FCU due to its “declining financial condition,” according to the release. Ensign FCU is the 13th federally insured credit union to be closed this year, according to the NCUA. The Federal Deposit Insurance Corporation also reported late last week the closure of Pacific Coast National Bank, which was the 123rd FDIC-insured institution to fail this year.


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