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Conservatorships and Liquidations

Conservatorships: From time to time, the National Credit Union Administration places a credit union into conservatorship in order to resolve operational problems that could affect that credit union’s safety and soundness. Conservatorship means the NCUA has taken control of the credit union. During a conservatorship, the credit union remains open; members may transact business; and accounts remain insured by the National Credit Union Share Insurance Fund. For federally chartered credit unions, the NCUA takes this action on its own; in the case of a state-chartered credit union, the state supervisory authority initiates the conservatorship and in many cases appoints the NCUA as agent for the conservator.

Conservatorships can have three outcomes:

  • The credit union can resolve its operational problems and be returned to member ownership;
  • The credit union can merge with another credit union; or
  • The NCUA can liquidate the credit union.

Liquidations: Liquidation means a credit union has been closed; however, a liquidated credit union may be purchased — and members, assets, and loans assumed — by another credit union, so that members will be able to continue receiving financial services. If a credit union is placed into liquidation, the NCUA’s Asset Management and Assistance Center (AMAC) will oversee the liquidation and set up an asset management estate (AME) to manage assets, settle members’ insurance claims, and attempt to recover value from the closed credit union’s assets.

An AME holds the assets of a failed institution. Commonly administered by AMAC, to which the NCUA Board has delegated statutory authorities providing broad supervisory and management powers over the credit union's assets and operations. These powers include the ability to facilitate funding and disposition of assets. Also known as a liquidation estate.

If the member shares are not assumed by another credit union, all verified member shares are typically paid within five days of a credit union’s closure. 

No member of a federally insured credit union has ever lost a penny in insured accounts.

Showing 1 - 60 of 260 Results
Year Date Type Credit Union Name City State Status
2009 02/13/2009 Involuntary Liquidation Center Valley Federal Credit Union Wheeling West Virginia Closed
2016 02/24/2016 Involuntary Liquidation Mildred Mitchell-Bateman Hospital Federal Credit Union Huntington West Virginia Closed
2022 10/07/2022 Conservatorship O.F. Toalston Federal Credit Union Logan West Virginia Closed
2022 10/07/2022 Conservatorship Mingo County Education Federal Credit Union Williamson West Virginia Closed
2022 11/15/2022 Involuntary Liquidation Mingo County Education Federal Credit Union Williamson West Virginia Closed
2022 11/15/2022 Involuntary Liquidation O.F. Toalston Federal Credit Union Logan West Virginia Closed
2009 12/17/2009 Merger With NCUA Assistance First Service Credit Union Milwaukee Wisconsin Merged
2009 08/31/2009 Merger With NCUA Assistance First Security Credit Union Elm Grove Wisconsin Merged
2012 08/01/2012 Involuntary Liquidation A M Community Credit Union Kenosha Wisconsin Closed
2012 05/18/2012 Involuntary Liquidation Wausau Postal Employees Credit Union Wausau Wisconsin Closed
2013 01/07/2013 Involuntary Liquidation New Covenant Missionary Baptist Church Credit Union Milwaukee Wisconsin Closed
2010 08/31/2010 Involuntary Liquidation First American Credit Union Beloit Wisconsin Closed
2012 02/17/2012 Conservatorship A M Community Credit Union Kenosha Wisconsin Closed
2011 03/04/2011 Involuntary Liquidation Wisconsin Heights Credit Union Ogema Wisconsin Closed
2016 02/05/2016 Involuntary Liquidation CTK Credit Union Milwaukee Wisconsin Closed
2010 10/29/2010 Involuntary Liquidation The Union Credit Union Spokane Washington Closed
2015 10/01/2015 Merger With NCUA Assistance Northwest Baptist Credit Union Seattle Washington Merged
2012 11/30/2012 Involuntary Liquidation Border Lodge Credit Union Derby Vermont Closed
2013 02/08/2013 Conservatorship NCP Community Development Federal Credit Union Norfolk Virginia Closed
2013 04/12/2013 Involuntary Liquidation Shiloh of Alexandria Federal Credit Union Alexandria Virginia Closed
2013 05/03/2013 Involuntary Liquidation Lynrocten Federal Credit Union Lynchburg Virginia Closed
2013 05/31/2013 Involuntary Liquidation NCP Community Development Federal Credit Union Norfolk Virginia Closed
2015 08/05/2015 Voluntary Liquidation New Bethel Federal Credit Union Portsmouth Virginia Closed
2015 04/30/2015 Conservatorship New Bethel Federal Credit Union Portsmouth Virginia Closed
2014 05/23/2014 Involuntary Liquidation Life Line Credit Union Richmond Virginia Closed
2021 12/30/2021 Involuntary Liquidation Portsmouth Schools Federal Credit Union Portsmouth Virginia Closed
2010 07/30/2010 Conservatorship Family First Federal Credit Union Orem Utah Closed
2010 06/30/2010 Involuntary Liquidation Southwest Community Federal Credit Union Saint George Utah Closed
2009 12/31/2009 Involuntary Liquidation HeritageWest Federal Credit Union Tooele Utah Closed
2010 12/14/2010 Involuntary Liquidation Beehive Credit Union Salt Lake City Utah Closed
2011 02/15/2011 Involuntary Liquidation Family First Federal Credit Union Orem Utah Closed
2011 04/29/2011 Involuntary Liquidation Utah Central Credit Union Salt Lake City Utah Closed
2010 10/31/2010 Involuntary Liquidation Southwest Corporate Federal Credit Union Plano Texas Closed
2009 01/01/2009 Merger With NCUA Assistance Bishop De Mazenod Federal Credit Union Houston Texas Merged
2011 04/15/2011 Conservatorship Texans Credit Union Richardson Texas Released
2010 06/09/2010 Involuntary Liquidation Orange County Employees Credit Union Orange Texas Closed
2012 10/31/2012 Involuntary Liquidation Women’s Southwest Federal Credit Union Dallas Texas Closed
2012 09/28/2012 Involuntary Liquidation El Paso's Federal Credit Union El Paso Texas Closed
2009 09/30/2009 Involuntary Liquidation West Texas Credit Union El Paso Texas Closed
2012 03/31/2012 Merger With NCUA Assistance H.A.A. Federal Credit Union Houston Texas Merged
2013 05/23/2013 Involuntary Liquidation Electrical Workers #527 Federal Credit Union Texas City Texas Closed
2010 08/03/2010 Involuntary Liquidation Kappa Alpha Psi Addison Texas Closed
2010 10/18/2010 Involuntary Liquidation Phil-Pet Federal Credit Union Pampa Texas Closed
2015 09/30/2015 Merger With NCUA Assistance Quemado Federal Credit Union Quemado Texas Merged
2013 11/30/2013 Merger With NCUA Assistance Southside Credit Union San Antonio Texas Merged
2014 10/10/2014 Involuntary Liquidation County & Municipal Employees Credit Union Edinburg Texas Closed
2021 03/26/2021 Conservatorship Edinburg Teachers Credit Union Edinburg Texas Released
2023 01/27/2023 Conservatorship Edinburg Teachers Credit Union Edinburg Texas Released
2023 01/20/2023 Conservatorship Valwood Park Federal Credit Union Carrollton Texas Active
2017 11/30/2017 Merger With NCUA Assistance Good Street Baptist Church Federal Credit Union Dallas Texas Merged
2019 04/23/2019 Conservatorship Mid East Tennessee Community Credit Union Decatur Tennessee Merged
2012 09/04/2012 Merger With NCUA Assistance CR Community First Eagle Butte South Dakota Merged
2021 09/17/2021 Involuntary Liquidation C O Federal Credit Union Charleston South Carolina Closed
2021 01/05/2021 Conservatorship C O Federal Credit Union Charleston South Carolina Closed
2010 09/13/2010 Involuntary Liquidation Industries Puerto Rico Federal Credit Union Manati Puerto Rico Closed
2011 02/17/2011 Conservatorship Greensburg Community Federal Credit Union Greensburg Pennsylvania Merged
2011 06/24/2011 Conservatorship Borinquen Federal Credit Union Philadelphia Pennsylvania Closed
2010 03/05/2010 Involuntary Liquidation Lawrence County School Employees Federal Credit Union New Castle Pennsylvania Closed
2013 11/01/2013 Conservatorship Mayfair Federal Credit Union Philadelphia Pennsylvania Closed
2009 08/28/2009 Involuntary Liquidation Free Choice Federal Credit Union Feasterville Pennsylvania Closed
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