Friday, November 13, 2015

NCUSIF Losses for 7 CU Failures Between April 1 and September 30

The National Credit Union Administration's Office of the Inspector General in its Semiannual Report to the Congress published the estimated losses to National Credit Union Share Insurance Fund (NCUSIF) from the failure of seven credit unions during the second and third quarter of 2015.

These seven credit union failures were not subject to Material Loss Reviews.

Below is the names of the credit unions and the estimated NCUSIF losses.
  • TLC Federal Credit Union, $1,210,000;
  • 65 Family Federal Credit Union, $135,713;
  • Kolmar NY Employees Federal Credit Union, $310,137;
  • Trailblazer Federal Credit Union, $1,072,233;
  • Lakeside Federal Credit Union, $1,665,434;
  • SCICAP Credit Union, $2,057,766; and
  • Quemado Federal Credit Union, $245,840.

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