Navigate Up
Sign In

Fairfield County Ohio Federal Employees Federal Credit Union Closes

Alexandria, Va. (November 30, 2009)The National Credit Union Administration (NCUA) today placed Fairfield County Ohio Federal Employees Federal Credit Union of Lancaster, Ohio, into liquidation.

The NCUA Asset Management and Assistance Center will issue checks to individuals holding verified share accounts in Fairfield County Ohio Federal Employees Federal Credit Union within one week.

Member accounts are insured to at least $250,000 coverage provided by the National Credit Union Share Insurance Fund, a federal fund backed by the full faith and credit of the U.S. Government. Members with questions about their insurance coverage can contact NCUA’s Share Insurance Call center at 1-800-755-1030, Press 1, Monday through Friday during normal business hours.

NCUA made the decision to liquidate Fairfield County Ohio Federal Employees Federal Credit Union and discontinue its independent operations after determining that the credit union is insolvent. It has no prospects for restoring viable operations. At the time of liquidation, the credit union served 747 members and had assets of approximately $1,468,685. This is the 14th federally insured credit union liquidation of 2009. 
 
NCUA chartered Fairfield County Ohio Federal Employees Federal Credit Union in 1957 to serve the employees of the United States Government who work in Fairfield County, Ohio.


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 U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 96 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..

--NCUA--

National Credit Union Administration

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223 bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"