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 1 - 60 of 255 Results
Year Date Type Credit Union Name City State Status
2009 01/01/2009 Merger With NCUA Assistance Channel Islands Federal Credit Union Oxnard California Merged
2009 01/01/2009 Merger With NCUA Assistance Bishop De Mazenod Federal Credit Union Houston Texas Merged
2009 02/13/2009 Involuntary Liquidation Center Valley Federal Credit Union Wheeling West Virginia Closed
2009 03/31/2009 Merger With NCUA Assistance Fort Snelling Federal Credit Union Minneapolis Minnesota Merged
2009 04/15/2009 Conservatorship Eastern Financial Federal Credit Union Miramar Florida Merged
2009 05/06/2009 Merger With NCUA Assistance First American Credit Union Santa Ana California Merged
2009 05/15/2009 Involuntary Liquidation Rouge Employees Credit Union Dearborn Michigan Closed
2009 06/10/2009 Merger With NCUA Assistance Norwood School Employees Federal Credit Union Norwood Massachusetts Merged
2009 06/18/2009 Involuntary Liquidation High Desert Federal Credit Union Apple Valley California Closed
2009 06/30/2009 Merger With NCUA Assistance Eastern Financial Credit Union Miramar Florida Merged
2009 07/01/2009 Merger With NCUA Assistance Kabel Federal Credit Union Belpre Ohio Merged
2009 07/01/2009 Merger With NCUA Assistance Electric Workers of #601 Credit Union Champaign Illinois Merged
2009 07/06/2009 Involuntary Liquidation Watts United Credit Union Los Angeles California Closed
2009 07/22/2009 Conservatorship New Hope Community Development Federal Credit Union Birmingham Alabama Merged
2009 08/11/2009 Involuntary Liquidation Community One Federal Credit Union Las Vegas Nevada Closed
2009 08/24/2009 Merger With NCUA Assistance Service Plus Credit Union Riverside California Merged
2009 08/28/2009 Involuntary Liquidation Free Choice Federal Credit Union Feasterville Pennsylvania Closed
2009 08/31/2009 Involuntary Liquidation Kaiser Lakeside Credit Union Oakland California Closed
2009 08/31/2009 Merger With NCUA Assistance First Security Credit Union Elm Grove Wisconsin Merged
2009 09/22/2009 Involuntary Liquidation Comunidades Federal Credit Union Los Angeles California Closed
2009 09/24/2009 Conservatorship Keys Federal Credit Union Key West Florida Released
2009 09/25/2009 Involuntary Liquidation Clearstar Financial Credit Union Reno Nevada Closed
2009 09/30/2009 Involuntary Liquidation West Texas Credit Union El Paso Texas Closed
2009 09/30/2009 Involuntary Liquidation The Members' Own Federal Credit Union Victorville California Closed
2009 10/23/2009 Conservatorship First Delta Federal Credit Union Marks Mississippi Merged
2009 10/28/2009 Involuntary Liquidation Second Baptist Church Credit Union Los Angeles California Closed
2009 11/13/2009 Involuntary Liquidation Ensign Federal Credit Union Henderson Nevada Closed
2009 11/30/2009 Involuntary Liquidation Fairfield County Ohio Federal Employees Federal Credit Union Lancaster Ohio Closed
2009 12/17/2009 Merger With NCUA Assistance First Service Credit Union Milwaukee Wisconsin Merged
2009 12/31/2009 Involuntary Liquidation Allied Tube Employees Federal Credit Union Harvey Illinois Closed
2009 12/31/2009 Involuntary Liquidation HeritageWest Federal Credit Union Tooele Utah Closed
2009 12/31/2009 Merger With NCUA Assistance GCM Federal Credit Union St. Paul Minnesota Merged
2010 01/01/2010 Merger With NCUA Assistance Coastal Waters Federal Credit Union Mobile Alabama Merged
2010 01/06/2010 Merger With NCUA Assistance Phillips County Self-Help Federal Credit Union Helena Arkansas Merged
2010 01/08/2010 Involuntary Liquidation Kern Central Credit Union Bakersfield California Closed
2010 02/02/2010 Merger With NCUA Assistance Bestwall Brunswick Federal Credit Union Brunswick Georgia Merged
2010 02/25/2010 Involuntary Liquidation Friendship Community Federal Credit Union Clarksdale Mississippi Closed
2010 02/26/2010 Involuntary Liquidation Mutual Diversified Employees Federal Credit Union Santa Ana California Closed
2010 03/01/2010 Merger With NCUA Assistance Community Choice Federal Credit Union Indianapolis Indiana Merged
2010 03/05/2010 Involuntary Liquidation Lawrence County School Employees Federal Credit Union New Castle Pennsylvania Closed
2010 03/19/2010 Conservatorship Tracy Federal Credit Union Tracy California Closed
2010 03/23/2010 Conservatorship St. Paul's Croatian Federal Credit Union Eastlake Ohio Closed
2010 04/08/2010 Involuntary Liquidation South End Mutual Benefit Association, Inc. Bloomfield Connecticut Closed
2010 04/27/2010 Involuntary Liquidation Tracy Federal Credit Union Tracy California Closed
2010 04/30/2010 Merger With NCUA Assistance A.L. Bratcher Federal Credit Union Bessemer Alabama Merged
2010 04/30/2010 Involuntary Liquidation St. Paul's Croatian Federal Credit Union Eastlake Ohio Closed
2010 04/30/2010 Merger With NCUA Assistance Bethel G.T. Federal Credit Union Jamaica New York Merged
2010 05/01/2010 Merger With NCUA Assistance Liberty Alliance Federal Credit Union Lexington Kentucky Merged
2010 05/17/2010 Involuntary Liquidation Convent Federal Credit Union New York New York Closed
2010 06/09/2010 Involuntary Liquidation Orange County Employees Credit Union Orange Texas Closed
2010 06/25/2010 Conservatorship Arrowhead Credit Union San Bernardino California Released
2010 06/30/2010 Involuntary Liquidation Southwest Community Federal Credit Union Saint George Utah Closed
2010 06/30/2010 Merger With NCUA Assistance First Delta Federal Credit Union Marks Mississippi Merged
2010 07/29/2010 Involuntary Liquidation Norbel Credit Union Fort Collins Colorado Closed
2010 07/30/2010 Conservatorship Family First Federal Credit Union Orem Utah Closed
2010 07/31/2010 Involuntary Liquidation Certified Federal Credit Union Commerce California Closed
2010 08/03/2010 Involuntary Liquidation Kappa Alpha Psi Addison Texas Closed
2010 08/31/2010 Merger With NCUA Assistance Table Rock Federal Credit Union Shell Knob Missouri Merged
2010 08/31/2010 Involuntary Liquidation First American Credit Union Beloit Wisconsin Closed
2010 09/01/2010 Merger With NCUA Assistance Est Central Federal Credit Union N/A N/A Merged
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