Ensign Federal Credit Union Members Now Served by EDS Credit Union; Member Accounts are Safe and Federally Insured
ALEXANDRIA, Va. (November 13, 2009) – The National Credit Union Administration (NCUA) today closed Ensign Federal Credit Union of Henderson, Nevada, and authorized the purchase and assumption (P&A) of member share accounts by EDS Credit Union of Plano, Texas.
The EDS Credit Union P&A enables Ensign Federal Credit Union members to continue to receive uninterrupted credit union service. Ensign’s declining financial condition led to the closure and subsequent P&A. Ensign Federal Credit Union had $98 million in assets and served 7,900 members. This is the 13th federally insured credit union liquidation in 2009.
EDS Credit Union is a full service credit union and its new members will have access to a broad array of financial services offered throughout a wide service area. With assets of $772 million, EDS Credit Union serves approximately 57,000 members in various states throughout the country. The headquarters office is located at 5640 Democracy Drive in Plano, Texas. EDS Credit Union has 15 branch offices serving members throughout its service area. The credit union also offers online transaction service.
Member accounts are insured to at least $250,000 by the National Credit Union Share Insurance Fund, a federal insurance fund backed by the full faith and credit of the U.S. Government.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of nearly 100
million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.