The Illinois Department of Financial and Professional suspended the operation of Imperial Credit Union (Springfield, Illinois) for 60 days (beginning December 30, 2014), due to the credit union’s insolvency. A Manager Trustee has been appointed to operate the credit union during the 60-day suspension period.
At the time of the order, the credit union had $31,428 in liabilities and shares and net assets of $24,341. The credit union reported a loss of $11,869 for 2014.
Read the order.
Read the order appointing a Manager Trustee.
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