Tuesday, September 30, 2014

Republic Hose Employees FCU Liquidated

The National Credit Union Administration liquidated Republic Hose Employees Federal Credit Union of Youngstown, Ohio.

NCUA made the decision to liquidate Republic Hose Employees Federal Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.

As of June 2014, the credit union was adequately capitalized. Almost 7 percent of its loans were delinquent. The credit union reported a loss for all of 2013 and the first half of 2014.

Republic Hose Employees Federal Credit Union served 455 members and had assets of $581,487.

Read the press release.
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