Alleged or potential fraud was listed as a factor in six of the seven failures.
The following table states the name of the credit union, the estimated loss to the NCUSIF, and reasons for the failure.
Thursday, May 5, 2016
Estimated Losses to NCUSIF, October 1, 2015 to March 31, 2016
Between October 1, 2015 and March 31, 2016, the National Credit Union Share Insurance Fund (NCUSIF) incurred almost $6.3 million losses from the failures of seven credit unions, according the NCUA OIG Semiannual Report to the Congress.
Alleged or potential fraud was listed as a factor in six of the seven failures.
The following table states the name of the credit union, the estimated loss to the NCUSIF, and reasons for the failure.
Alleged or potential fraud was listed as a factor in six of the seven failures.
The following table states the name of the credit union, the estimated loss to the NCUSIF, and reasons for the failure.
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