Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Kinecta Purchases ICE FCU
ALEXANDRIA, Va. (3/21/13)--Kinecta FCU, Manhattan Beach, Calif., will take on the assets, shares and members of I.C.E. FCU, Inglewood, Calif., after the National Credit Union Administration announced an approved purchase and assumption agreement Wednesday.

The NCUA assumed control of I.C.E. FCU last week after it determined the credit union was insolvent and had no prospects for restoring viable operations. The credit union held $3.4 million-in-assets and had 942 members.

The agency said the new Kinecta members should experience no further interruption in services, and noted that their accounts will continue to be covered by the National Credit Union Share Insurance Fund up to $250,000.

Kinecta holds $3.2 billion in assets and has more than 242,000 members. The credit union was chartered in 1940 and serves individuals who live, work, worship or attend school in the central Los Angeles area, select employer groups, and members of the Consumers Cooperative Society of Santa Monica.

For the full NCUA release, use the resource link.
Other Resources

NCUA Release
RSS print
News Now LiveWire
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
3 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
4 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
4 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
4 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
5 hours ago