Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Tiny Interfaith FCU closed
ALEXANDRIA, Va. (9/18/08)—Interfaith FCU of East Orange, N.J., had approximately $388,000 in assets and 370 when it was closed by the National Credit Union Administration (NCUA) recently. It is the tenth federal credit union to be closed by the agency this year. Announcing the liquidation Wednesday, the NCUA said its Asset Management and Assistance Center will issue checks within a week to individuals holding verified share accounts. The agency reiterated that the members’ deposits are insured to at least $100,000 on regular accounts and $250,000 on certain retirement accounts through the NCUA National Credit Union Share Insurance Fund. The federal regulator liquidated Interfaith FCU and discontinued its operations after determining the credit union is insolvent and has no prospects of restoring viable operations. The credit union was chartered in 1982 to serve New Hope Baptist Church.


RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
17 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
18 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
19 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
19 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
20 hours ago