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
2023 01/20/2023 Conservatorship Valwood Park Federal Credit Union Carrollton Texas Active
2022 10/07/2022 Conservatorship Mingo County Education Federal Credit Union Williamson West Virginia Active
2022 12/12/2022 Conservatorship Richmond City Employees Federal Credit Union Richmond Indiana Active
2022 03/04/2022 Involuntary Liquidation Empire Financial Federal Credit Union New York New York Closed
2022 09/30/2022 Involuntary Liquidation Paducah Teachers Federal Credit Union Paducah Kentucky Closed
2022 10/07/2022 Conservatorship O.F. Toalston Federal Credit Union Logan West Virginia Active
2022 11/15/2022 Involuntary Liquidation O.F. Toalston Federal Credit Union Logan West Virginia Closed
2022 11/15/2022 Involuntary Liquidation Mingo County Education Federal Credit Union Williamson West Virginia Closed
2021 01/05/2021 Conservatorship C O Federal Credit Union Charleston South Carolina Active
2021 01/14/2021 Conservatorship Indianapolis’ Newspaper Federal Credit Union Indianapolis Indiana Closed
2021 07/01/2021 Involuntary Liquidation Defense Logistics Federal Credit Union Dover New Jersey Closed
2021 05/24/2021 Conservatorship Empire Financial Federal Credit Union Jackson New Jersey Active
2021 03/26/2021 Conservatorship Edinburg Teachers Credit Union Edinburg Texas Active
2021 03/31/2021 Involuntary Liquidation Indianapolis’ Newspaper Federal Credit Union Indianapolis Indiana Closed
2021 11/05/2021 Conservatorship Pomona Postal Federal Credit Union Pomona California Active
2021 09/17/2021 Involuntary Liquidation C O Federal Credit Union Charleston South Carolina Closed
2021 12/30/2021 Involuntary Liquidation Portsmouth Schools Federal Credit Union Portsmouth Virginia Closed
2020 05/29/2020 Involuntary Liquidation IBEW Local Union 712 Federal Credit Union Beaver Pennsylvania Closed
2020 06/11/2020 Conservatorship Southern Pine Credit Union Valdosta Georgia Released
2019 04/23/2019 Conservatorship Mid East Tennessee Community Credit Union Decatur Tennessee Merged
2019 03/29/2019 Involuntary Liquidation CBS Employees Federal Credit Union Studio City California Closed
2019 05/17/2019 Conservatorship Municipal Credit Union New York New York Released
2018 10/12/2018 Involuntary Liquidation Radio, Television and Communication Federal Credit Union Staten Island New York Closed
2018 01/30/2018 Involuntary Liquidation St. Elizabeth’s Credit Union Chicago Illinois Closed
2018 02/23/2018 Conservatorship Ukrainian Future Credit Union Warren Michigan Merged
2018 06/29/2018 Involuntary Liquidation Louisville Metro Police Officers Credit Union Louisville Kentucky Closed
2018 09/30/2018 Involuntary Liquidation LOMTO Federal Credit Union Woodside New York Closed
2018 02/28/2018 Involuntary Liquidation First Jersey Credit Union Wayne New Jersey Closed
2018 10/01/2018 Merger With NCUA Assistance Bay Ridge Federal Credit Union Brooklyn New York Merged
2018 07/31/2018 Involuntary Liquidation Greater Christ Baptist Church Credit Union Detroit Michigan Closed
2018 03/14/2018 Conservatorship Beverly Bus Garage Federal Credit Union Chicago Illinois Merged
2018 08/31/2018 Involuntary Liquidation Melrose Credit Union Briarwood New York Closed
2017 11/30/2017 Merger With NCUA Assistance Good Street Baptist Church Federal Credit Union Dallas Texas Merged
2017 11/30/2017 Merger With NCUA Assistance Eaton Employees Credit Union Spencer Iowa Merged
2017 06/23/2017 Conservatorship Citizens Community Credit Union Devils Lake North Dakota Merged
2017 03/31/2017 Involuntary Liquidation Valley State Credit Union Saginaw Michigan Closed
2017 03/17/2017 Involuntary Liquidation Florida Conference AME Church (FCAMEC) Federal Credit Union Tallahassee Florida Closed
2017 12/04/2017 Involuntary Liquidation Riverdale Credit Union Selma Alabama Closed
2017 04/13/2017 Conservatorship Shreveport Federal Credit Union Shreveport Louisiana Closed
2017 07/31/2017 Merger With NCUA Assistance Love Gospel Assembly Federal Credit Union Bronx New York Merged
2017 06/22/2017 Conservatorship Riverdale Credit Union Selma Alabama Closed
2017 10/27/2017 Involuntary Liquidation New York State Employees Federal Credit Union New York New York Closed
2017 06/26/2017 Conservatorship LOMTO Federal Credit Union Woodside New York Closed
2017 12/15/2017 Conservatorship Louisville Metro Police Officers Credit Union Louisville Kentucky Closed
2017 10/31/2017 Merger With NCUA Assistance Tri-Rivers Federal Credit Union Montgomery Alabama Merged
2017 10/02/2017 Involuntary Liquidation Shreveport Federal Credit Union Shreveport Louisiana Closed
2017 04/20/2017 Conservatorship Community United Federal Credit Union Waycross Georgia Merged
2017 08/31/2017 Merger With NCUA Assistance MADCO Credit Union Edwardsville Illinois Merged
2017 02/10/2017 Conservatorship Melrose Credit Union Briarwood New York Closed
2016 04/05/2016 Involuntary Liquidation Servco Federal Credit Union Bensalem Pennsylvania Closed
2016 09/01/2016 Merger With NCUA Assistance Cory Methodist Church Credit Union Cleveland Ohio Merged
2016 11/29/2016 Involuntary Liquidation First African Baptist Church Federal Credit Union Sharon Hill Pennsylvania Closed
2016 03/29/2016 Involuntary Liquidation Veterans Health Administration Credit Union Detroit Michigan Closed
2016 02/05/2016 Involuntary Liquidation CTK Credit Union Milwaukee Wisconsin Closed
2016 01/01/2016 Merger With NCUA Assistance Community Trust Federal Credit Union Apopka Florida Merged
2016 04/05/2016 Involuntary Liquidation Triangle Interests % Service Center Federal Credit Union Bensalem Pennsylvania Closed
2016 01/13/2016 Conservatorship Clarkston Brandon Community Credit Union Clarkston Michigan Merged
2016 04/05/2016 Involuntary Liquidation Cardozo Lodge Federal Credit Union Bensalem Pennsylvania 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
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