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News Now

Washington
Utah Central CU closed members now served by Chartway FCU
ALEXANDRIA, Va. (5/2/11)—The National Credit Union Administration said it was Utah Central CU’s declining financial condition that led to its liquidation, announced Friday by the agency. The Salt Lake City, Utah credit union’s assets, liabilities and members were purchased or assumed immediately by Chartway FCU, of Virginia Beach, Va. Utah Central was established in 1940 to serve employees, directors and committee members of other credit unions in Utah. The credit union had approximately $157 million in assets when closed, and served 22,000 members. Chartway FCU is a full-service credit union and its members will have access to a broad array of financial services offered throughout the United States. With approximately $1.8 billion in assets, Chartway has branches in Arkansas, Florida, Georgia, New Jersey, North Carolina, Ohio, Rhode Island, Texas, Utah, and Virginia. It serves around 207,000 members. This is the seventh federally insured credit union liquidation in 2011.


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