Saturday, January 9, 2010

Kern Central Closed

The National Credit Union Administration (NCUA) was appointed liquidating agent of Kern Central Credit Union (Kern Central) of Bakersfield, California, by the California Department of Financial Institutions (DFI).

As of September 2009, Kern Central was significantly undercapitalized and reported a year-to-date loss of almost $2.2 million.

At liquidation, Kern Central had approximately $34.9 million in assets and served approximately 8,400 members.

Self-Help FCU assumed the assets and deposits of Kern Central.
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