Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Texas CU purchasesassumes assets liabilities members of Utah CU
ALEXANDRIA, Va. (2/17/11)--A $119 million-asset Utah credit union was liquidated Tuesday by the National Credit Union Administration (NCUA), and a San Antonio, Texas-based credit union purchased and assumed its assets, liabilities and members. The Utah institution, Family First FCU, Orem, was serving about 18,000 members when it was closed. Last July 30, the NCUA assumed control of its operations with a stated goal of “continuing credit union service to the members at a safe, sound credit union.” Former Family First members become members of the purchasing Security Service FCU with no interruption in credit union service. Security Service is a full-service institution with $6 billion in assets and 800,000 members. This is the second federally insured credit union liquidation in 2011.


RSS print
News Now LiveWire
.@RepDennyHeck to @NWCUA Amplify conference audience: "More often than not, CUs are part of the solution"
17 hours ago
LA Laker and NBA Legend Earvin "Magic" Johnson was the keynote speaker Tuesday @CCULReach, hosted by the Cal/Nev #CreditUnion Leagues
18 hours ago
.@growfinancial's #salsa sensation spices up seed giveaway #NewsNow http://t.co/rKmWVwwzot
18 hours ago
.@TheNCUA Office of Small CU Initiatives soon--maybe Nov.--will launch website for #CUs 2 research #creditunion vendors or service providers
18 hours ago
.@TheNCUA says late 2Q Call Report filers 2 pay total of $17,111 in penalties.Individual penalty range is $52 to $1,824;median is $256. 2of2
19 hours ago