Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Even 1 step makes a difference in preparing for disasters #creditunions #NewsNow http://t.co/eFUmMJnIwA
8 hours ago
From today's @USATODAY front page, a shout out to #CreditUnions courtesy of @CUNA http://t.co/881vLPeECN
9 hours ago
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
11 hours ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
11 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
11 hours ago