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News Now

Washington
NCUA works on checks to St. Paul Croatia members
ALEXANDRIA, Va. (5/7/10)—The National Credit Union Administration (NCUA) confirmed Thursday that progress is being made sorting out “recordkeeping difficulties” at the recently liquidated St. Paul Croatia FCU, and former members can expect reimbursement checks for their deposits soon. The Eastlake, Ohio-based credit was officially closed by the NCUA on May 1, about a week after it was placed into conservatorship by the agency. St. Paul's held $238.8 million in funds from 5,400 members at the time of its closing. The NCUA said it hoped to have checks to members “perhaps in the next few days.” When it closed the credit union, the NCUA said in a release that St Paul’s was insolvent and had "no prospects for restoring viable operations."


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