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
Tiny United Catholic CU is 2012s eighth liquidation
ALEXANDRIA, Va. (8/10/12)--United Catholic CU (UCCU), with 200 members and about $303,000 in deposits, became the eighth federally insured credit union to be liquidated this year.  The Michigan Office of Financial Insurance Regulation (OFIR) appointed the National Credit Union Administration (NCUA) as liquidating agent when it closed the Temperance, Mich. credit union Thursday.

The NCUA's Asset Management and Assistance Center will issue checks to individuals holding verified share accounts in the credit union within one week. UCCU member deposits are federally insured by the National Credit Union Share Insurance Fund (NCUSIF) up to $250,000.

An OFIR examination found that UCCU was operating in an unsafe and unsound manner and was insolvent, according to an agency announcement.

UCCU, federally insured, state-chartered credit union, was chartered in 1961 and served members belonging to Catholic parishes in the Temperance/Erie area.  It had one branch.

Former UCCU members with questions about their insurance coverage may contact the NCUA's Consumer Service hotline toll-free at 800-755-1030, Monday through Friday between 8 a.m. and 5 p.m. (ET).  Individuals may also visit the MyCreditUnion.gov website for more information about NCUSIF insurance coverage.


RSS





print
News Now LiveWire
.@Nussle, Cummins share #creditunion difference with Minn. biz journal http://t.co/7EZ4FdgfD9
32 minutes ago
.@cuna #GAC2015 countdown: @USTreasury 's Gerety, @CFPB 's Martinez join power-packed lineup http://t.co/nHNJ81tGbi
1 hour ago
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
21 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
1 day ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
17 hours ago