Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NCUA closes young tiny Shepherds FCU
ALEXANDRIA, Va. (3/26/12)--Charlotte, N.C.-based Sheperd's FCU has been liquidated, the National Credit Union Administration (NCUA) announced Monday.

The agency said it decided to liquidate the credit union after finding it was insolvent and had no prospect for restoring viable operations.

The NCUA will return funds to current members via check within one week, it said.

Sheperd's FCU served 1,397 members and held $379,000 in assets. The credit union was chartered in 2010 to serve members and employees of Unity, the Way of Holiness Christian Church, based in Charlotte and Clarkton, N.C.

It is the fourth credit union to be liquidated in 2012.

The NCUA was named liquidating agent of Saguache County CU of Moffat, Colo., late last week, and was apppointed by California regulators as conservator for Chatsworth, Calif.-based Telesis Community CU. (See March 26 story: One liquidation, one conservatorship announced by regulators.)
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
9 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
10 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
12 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
14 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
14 hours ago