Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Lynrocten FCU Closed By NCUA
ALEXANDRIA, Va. (5/6/13)--The National Credit Union Administration (NCUA) Friday liquidated Lynrocten FCU. The Lynchburg, Va., credit union had 1,068 members and about $13.8 million in assets, according to the agency.

The federal regulator made the decision to liquidate Lynrocten and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.

Lynrocten FCU is the sixth federally insured credit union liquidation in 2013. The credit union was chartered in 1936 and served the employees of Rock-Tenn Co. and their immediate family members.

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


RSS print
News Now LiveWire
Consumer confidence hits 7-year high #Market #NewsNow http://t.co/s7DGIGLZb3
17 hours ago
Still time 2 register 4 @TheNCUA Nov. 19 webinar, “Building a Loan Portfolio: Four Keys to Lending,” hosted by OSCUI. http://t.co/ezTFpnhHlP
18 hours ago
BREAKING: QE in rearview mirror, rate hike miles off: @federalreserve http://t.co/l8y32TZs6w #BREAKING
18 hours ago
.@federalreserve: cmte decides to conclude asset purchase program this month http://t.co/eNjjYbSpc4
18 hours ago
Lake Trust #creditunion (re)invests with The Block in Lansing #NewsNow #System http://t.co/mSQftnBIgA
20 hours ago