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. [1]  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.

[1] 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.

Showing 61 - 120 of 255 Results
Year Date Type Credit Union Name City State Status
2016 03/29/2016 Involuntary Liquidation Veterans Health Administration Credit Union Detroit Michigan Closed
2016 03/04/2016 Involuntary Liquidation Education Associations Federal Credit Union Washington District of Columbia Closed
2016 02/24/2016 Involuntary Liquidation Mildred Mitchell-Bateman Hospital Federal Credit Union Huntington West Virginia Closed
2016 02/05/2016 Involuntary Liquidation CTK Credit Union Milwaukee Wisconsin Closed
2016 02/04/2016 Conservatorship Cory Methodist Church Credit Union Cleveland Ohio Merged
2016 01/13/2016 Conservatorship Clarkston Brandon Community Credit Union Clarkston Michigan Merged
2016 01/01/2016 Merger With NCUA Assistance Community Trust Federal Credit Union Apopka Florida Merged
2015 12/29/2015 Involuntary Liquidation First Hawaiian Homes Federal Credit Union Hoolehua Hawaii Closed
2015 12/18/2015 Involuntary Liquidation Bethex Federal Credit Union Bronx New York Closed
2015 12/01/2015 Involuntary Liquidation Greater Abyssinia Federal Credit Union Cleveland Ohio Closed
2015 11/20/2015 Involuntary Liquidation Helping Other People Excel Federal Credit Union Jackson New Jersey Closed
2015 10/16/2015 Conservatorship Helping Other People Excel Federal Credit Union Jackson New Jersey Closed
2015 10/01/2015 Merger With NCUA Assistance Northwest Baptist Credit Union Seattle Washington Merged
2015 09/30/2015 Merger With NCUA Assistance Quemado Federal Credit Union Quemado Texas Merged
2015 09/24/2015 Involuntary Liquidation SWC Credit Union Tampa Florida Closed
2015 09/18/2015 Conservatorship Bethex Federal Credit Union Bronx New York Closed
2015 09/18/2015 Conservatorship Montauk Credit Union New York New York Merged
2015 08/28/2015 Involuntary Liquidation SCICAP Credit Union Chariton Iowa Closed
2015 08/05/2015 Voluntary Liquidation New Bethel Federal Credit Union Portsmouth Virginia Closed
2015 07/16/2015 Involuntary Liquidation Lakeside Federal Credit Union Hammond Indiana Closed
2015 07/10/2015 Involuntary Liquidation Trailblazer Federal Credit Union Washington Pennsylvania Closed
2015 07/01/2015 Merger With NCUA Assistance Kolmar NY Employees Federal Credit Union Port Jervis New York Merged
2015 07/01/2015 Merger With NCUA Assistance 65 Family Federal Credit Union New York New York Merged
2015 04/30/2015 Involuntary Liquidation TLC Federal Credit Union Tillamook Oregon Closed
2015 04/30/2015 Conservatorship New Bethel Federal Credit Union Portsmouth Virginia Closed
2015 04/23/2015 Conservatorship Montgomery County Credit Union Dayton Ohio Merged
2015 03/31/2015 Involuntary Liquidation North Dade Community Development Federal Credit Union Miami Gardens Florida Closed
2015 02/01/2015 Merger With NCUA Assistance New Mexico Correctional Employees Federal Credit Union Santa Fe New Mexico Merged
2015 01/30/2015 Involuntary Liquidation American Bakery Workers Federal Credit Union Philadelphia Pennsylvania Closed
2014 12/12/2014 Involuntary Liquidation Health One Credit Union Detroit Michigan Closed
2014 12/03/2014 Involuntary Liquidation Metropolitan Church of God Credit Union Detroit Michigan Closed
2014 10/10/2014 Involuntary Liquidation County & Municipal Employees Credit Union Edinburg Texas Closed
2014 09/30/2014 Involuntary Liquidation Republic Hose Employees Federal Credit Union Youngstown Ohio Closed
2014 09/05/2014 Involuntary Liquidation Louden Depot Community Credit Union Fairfield Iowa Closed
2014 08/31/2014 Merger With NCUA Assistance Macon County School Employees Federal Credit Union Decatur Illinois Merged
2014 07/10/2014 Involuntary Liquidation IBEW Local 816 Federal Credit Union Paducah Kentucky Closed
2014 05/23/2014 Involuntary Liquidation Life Line Credit Union Richmond Virginia Closed
2014 05/16/2014 Conservatorship Health One Credit Union Detroit Michigan Closed
2014 05/01/2014 Merger With NCUA Assistance Tombstone Federal Credit Union Tombstone Arizona Merged
2014 03/31/2014 Involuntary Liquidation Mayfair Federal Credit Union Philadelphia Pennsylvania Closed
2014 03/31/2014 Merger With NCUA Assistance Oldham Family Alliance Federal Credit Union Baltimore Maryland Merged
2014 03/21/2014 Involuntary Liquidation Parsons Pittsburg Credit Union Parsons Kansas Closed
2014 03/14/2014 Merger With NCUA Assistance Union Settlement Federal Credit Union New York New York Merged
2014 02/28/2014 Merger With NCUA Assistance Jayhawk Federal Credit Union Lawrence Kansas Merged
2014 02/14/2014 Involuntary Liquidation St. Francis Campus Credit Union Little Falls Minnesota Closed
2014 01/24/2014 Conservatorship Parsons Pittsburg Credit Union Parsons Kansas Closed
2014 01/21/2014 Voluntary Liquidation Bagumbayan Credit Union Chicago Illinois Closed
2013 12/12/2013 Conservatorship Bagumbayan Credit Union Chicago Illinois Closed
2013 12/01/2013 Merger With NCUA Assistance S J H Employees' Credit Union Springfield Illinois Merged
2013 11/30/2013 Merger With NCUA Assistance Southside Credit Union San Antonio Texas Merged
2013 11/22/2013 Involuntary Liquidation Polish Combatants Credit Union Bedford Ohio Closed
2013 11/01/2013 Conservatorship Mayfair Federal Credit Union Philadelphia Pennsylvania Closed
2013 09/06/2013 Involuntary Liquidation Craftsman Credit Union Detroit Michigan Closed
2013 08/05/2013 Merger With NCUA Assistance Greater Oregon Federal Credit Union Burns Oregon Merged
2013 07/15/2013 Involuntary Liquidation Taupa Lithuanian Credit Union Cleveland Ohio Closed
2013 07/01/2013 Involuntary Liquidation PEF Federal Credit Union Highland Heights Ohio Closed
2013 06/30/2013 Merger With NCUA Assistance Zane Trace Federal Credit Union Zanesville Ohio Merged
2013 06/28/2013 Involuntary Liquidation Ochsner Clinic Federal Credit Union New Orleans Louisiana Closed
2013 06/21/2013 Conservatorship PEF Federal Credit Union Highland Heights Ohio Closed
2013 05/31/2013 Voluntary Liquidation First Kingdom Community Federal Credit Union Selma Alabama Closed