Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Texas CU purchasesassumes assets liabilities members of Utah CU
ALEXANDRIA, Va. (2/17/11)--A $119 million-asset Utah credit union was liquidated Tuesday by the National Credit Union Administration (NCUA), and a San Antonio, Texas-based credit union purchased and assumed its assets, liabilities and members. The Utah institution, Family First FCU, Orem, was serving about 18,000 members when it was closed. Last July 30, the NCUA assumed control of its operations with a stated goal of “continuing credit union service to the members at a safe, sound credit union.” Former Family First members become members of the purchasing Security Service FCU with no interruption in credit union service. Security Service is a full-service institution with $6 billion in assets and 800,000 members. This is the second federally insured credit union liquidation in 2011.


RSS print
News Now LiveWire
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
17 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
18 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
19 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
19 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
20 hours ago