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email: pacamail@ncua.gov
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Jilapuhn Federal Credit Union Discontinues Operations

All Member Funds Insured

August 29, 2005, Alexandria, Va. – The National Credit Union Administration (NCUA) today announced the liquidation of Jilapuhn Federal Credit Union, located in East Point, Georgia.
NCUA assumed control of Jilapuhn FCU’s operations on August 26, 2005, after determining the credit union had an impaired capital position and was experiencing irresolvable problems in the areas of capital adequacy, cash management, record keeping and management.

Jilapuhn FCU, with assets of less than $150 thousand, serves less than 200 members. The credit union’s office is located at 2995 East Point Street in East Point, Georgia. Federal credit union member accounts are federally insured up to $100,000 by the National Credit Union Share Insurance Fund, a federal fund backed by the full faith and credit of the U.S. government. If consumers have any questions or concerns about share insurance coverage, they should contact NCUA directly at (512) 231-7900.

The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of over 83 million account holders in all federal credit unions and many state-chartered credit unions.