NCUA Media Release

Ensign Federal Credit Union Members Now Served by EDS Credit Union

Member Accounts are Safe and Federally Insured

 

November 13, 2009, Alexandria, Va. – 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.

The National Credit Union Administration is the independent federal agency that regulates charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, also operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of nearly 90 million account holders in all federal credit unions and the majority of state-chartered credit unions.

 

- NCUA -