Category Archives: National Credit Union Administration

ALEXANDRIA, Va. (Nov. 9, 2015) – Credit union managers, staff and boards can learn more about the National Credit Union Administration’s risk-based capital rule and what to expect during its three-year implementation period in a new video released today by the agency. The video, available here (opens new window), provides a summary of the rule’s […]

Recoveries in Securities Cases Reach More than $1.9 Billion ALEXANDRIA, Va. (Sept. 16, 2015) – The National Credit Union Administration today announced acceptance of an offer of judgment for $129.6 million from the Royal Bank of Scotland to resolve claims arising from losses related to purchases of residential mortgage-backed securities by Members United and Southwest […]

NCUA Has Provided Regulatory Relief and Streamlined Key Rules; Credit Unions Still Encouraged to Share Ideas ALEXANDRIA, Va. (Sept. 23, 2014) – Three years after National Credit Union Administration Board Chairman Debbie Matz announced her Regulatory Modernization Initiative, the agency has provided credit unions with greater flexibility, reduced regulatory burdens and expanded powers, without compromising […]

Board Action Bulletin Voluntary Liquidation Proposal Provides Regulatory Relief, Consumer Protection ALEXANDRIA, Va. (Feb. 20, 2014) – The National Credit Union Administration Board convened its second scheduled open meeting of 2014 at the agency’s headquarters here today. The Board received an update on the Share Insurance Fund and unanimously approved a proposed rule that would […]

Board Action Bulletin Board also Approves Amendments to Agency Regulations ALEXANDRIA, Va. (May 16, 2013) – The National Credit Union Administration (NCUA) Board convened its fifth scheduled open meeting of 2013 at the agency’s headquarters here today. The Board unanimously approved: A proposed rule giving well-managed federally insured credit unions with more than $250 million […]

Member Deposits Protected up to $250,000 and Consumer Service Hotline Open ALEXANDRIA, Va. (Sept. 28, 2012) – The National Credit Union Administration (NCUA) today liquidated El Paso’s Federal Credit Union (EPFCU) of El Paso, Texas. NCUA made the decision to liquidate EPFCU and discontinue operations after determining the credit union was insolvent and had no […]

ALEXANDRIA, Va. (Dec. 19, 2011) – The National Credit Union Administration (NCUA) liquidated Birmingham Financial Federal Credit Union (BFFCU) of Birmingham, Alabama today.  CO Credit Union of Birmingham, Alabama immediately assumed BFFCU’s members, assets, loans and debt. The accounts of the new CO Credit Union members remain federally insured by the National Credit Union Share […]

Member Deposits Insured up to $250,000; Insolvency Led to Closure  ALEXANDRIA, Va. (May 18, 2011) – The National Credit Union Administration (NCUA) liquidated Hmong American Federal Credit Union of St. Paul, Minn., today. NCUA made the decision to close Hmong American Federal Credit Union and discontinue its operation after determining the credit union is insolvent […]

Member Accounts are Safe and Federally Insured  ALEXANDRIA, Va. (October 21, 2010) — The National Credit Union Administration (NCUA) placed Phil-Pet Federal Credit Union, located in Pampa, Texas, into liquidation on October 18, 2010.   NCUA made the decision to close Phil-Pet Federal Credit Union and discontinue its operation after determining the credit union is insolvent. […]

Connecticut Department of Banking Appoints NCUA Liquidating Agent; Member Funds Are Insured ALEXANDRIA, Va. (April 8, 2010) — The National Credit Union Administration (NCUA) today accepted appointment as receiver/liquidator of South End Mutual Benefit Association, Inc., a state chartered credit union in Bloomfield, Connecticut, following the State of Connecticut Department of Banking decision to close […]