Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Lynrocten FCU Closed By NCUA
ALEXANDRIA, Va. (5/6/13)--The National Credit Union Administration (NCUA) Friday liquidated Lynrocten FCU. The Lynchburg, Va., credit union had 1,068 members and about $13.8 million in assets, according to the agency.

The federal regulator made the decision to liquidate Lynrocten and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.

Lynrocten FCU is the sixth federally insured credit union liquidation in 2013. The credit union was chartered in 1936 and served the employees of Rock-Tenn Co. and their immediate family members.

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


RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
22 hours ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
22 hours ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
23 hours ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
1 Day ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
1 Day ago