Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Electrical Workers #527 FCU Declared Insolvent
ALEXANDRIA, Va. (5/24/13)--Electrical Workers #527 FCU of Texas City, Texas, with 527 members and assets of $622,857, was declared insolvent Thursday by the National Credit Union Administration, which liquidated the credit union upon determining it had no prospect of restoring viable operations.

The credit union was chartered in 1963 and served a number of select groups centered primarily on electrical workers in the Texas City area.

It is the seventh federally insured credit union liquidation in 2013.

Member deposits are federally insured by the National Credit Union Share Insurance Fund up to $250,000 and within a week the NCUA's Asset Management and Assistance Center will issue checks to individuals holding verified share accounts.


RSS print
News Now LiveWire
@CFPB today finalized a rule to promote more effective privacy disclosures from financial institutions to their customers. Watch News Now
57 minutes ago
Four consumer rights you didn't have 40 years ago via @CreditExperts http://t.co/RwSocTG1q4
1 hours ago
Cascade Community #CreditUnion has granted 30 educators almost $6,000 in Chalkboard grants for the 2014-15 school year.
1 hours ago
#NewsNow Money: CUNA's Schenk talks interest rates, inflation http://t.co/JbQlDrXzM3
1 hours ago
Eric Richard, CUNA's general counsel, details legal/regulatory trends affecting CUs at CUNA Attorneys Conf. today. http://t.co/n7ZATxT4eM
2 hours ago