IBEW Local 816 FCU Closed

The National Credit Union Administration liquidated IBEW Local 816 Federal Credit Union of Paducah, Kentucky.

NCUA made the decision to liquidate IBEW Local 816 Federal Credit Union and discontinue its operations after determining the credit union was insolvent and had no prospect for restoring viable operations.

IBEW Local 816 Federal Credit Union served 929 members and had assets of approximately $6.3 million, according to the credit union’s most recent Call Report. Chartered in 1954, IBEW Local 816 Federal Credit Union served members, employees and their families of the International Brotherhood of Electrical Workers, AFL-CIO, in Paducah.

Read the press release.