Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Ohio Regulator Closes Taupa Lithuanian CU
ALEXANDRIA, Va. (7/16/13)--The Ohio Division of Financial Institutions liquidated the Taupa Lithuanian CU of Cleveland Monday and appointed the National Credit Union Administration as liquidating agent.

The Ohio regulator decided to close the $23.6 million-asset credit union and discontinue its operations after determining the credit union had no prospect for restoring viable operations. Member deposits are federally insured by the National Credit Union Share Insurance Fund up to $250,000. 

Taupa Lithuanian had served 1,154 members and was chartered in 1984 to serve the Lithuanian community of Cleveland and Northeast Ohio.

NCUA's Asset Management and Assistance Center will issue correspondence to individuals holding verified share accounts in the credit union within one week. 

Taupa Lithuanian CU is the 11th federally insured credit union liquidation in 2013.


RSS print
News Now LiveWire
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
4 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
6 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
8 hours ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
8 hours ago
Both @CUNA @NAFCU urge extension of #RBC extension period http://t.co/FWMcvlwHPM
9 hours ago