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News Now

Washington
NCUA closes St. Luke Baptist FCU
ALEXANDRIA, Va. -- The National Credit Union Administration (NCUA) placed St. Luke Baptist FCU of Laurelton, New York, into liquidation May 3. NCUA announced that its Asset Management and Assistance Center will issue checks to members holding verified share accounts in the St. Luke Baptist FCU within one week. Through NCUA’s National Credit Union Share Insurance Fund, credit union member deposits are insured up to at least $100,000 per account. NCUA made the decision to liquidate St. Luke Baptist and discontinue its operations after determining the credit union is insolvent. It has no prospects for restoring viable operations. At the time of liquidation, the credit union served 162 members and had assets of approximately $49,734. Chartered in 1976, the credit union served members of the St. Luke Baptist Church located in Laurelton, N.Y.


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