SWC Credit Union Closed

The National Credit Union Administration (NCUA) liquidated SWC Credit Union of Tampa, Florida.

The Florida Office of Financial Regulation had placed SWC into conservatorship and named NCUA as the agent for the conservator. NCUA made the decision to liquidate SWC and discontinue its operations after determining the credit union was unable to restore viable operations.

SWC Credit Union had 309 members and assets of $1.9 million, according to the credit union’s most recent Call Report.

SWC is the sixth federally insured credit union liquidation in 2015 and the second Florida-based credit union to be liquidated this year.

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