Member Deposits Protected up to $250,000; Consumer Service Hotline Open

ALEXANDRIA, Va. (Feb. 19, 2013)

– The Michigan Office of Financial and Insurance Regulation (OFIR) today liquidated Amez United Credit Union of Detroit, Mich., and appointed the National Credit Union Administration (NCUA) as liquidating agent.

Amez United Credit Union members’ deposits are federally insured by the National Credit Union Share Insurance Fund up to $250,000. NCUA’s Asset Management and Assistance Center will issue checks to individuals holding verified share accounts in the credit union within one week.

Members with questions about their insurance coverage may contact NCUA’s Consumer Assistance Center toll free at (800) 755-1030. The Center answers calls Monday through Friday between 8 a.m. and 5 p.m. Eastern. Individuals may also visit the MyCreditUnion.gov website at any time for more information about their insurance coverage.

OFIR made the decision to liquidate Amez United Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.

Originally chartered in 1961, Amez United Credit Union served registered members of the churches in the Detroit district of the Michigan Conference of the African Methodist Episcopal Zion Church. Amez United Credit Union had 158 members and assets of approximately $168,865, according to its most recent Call Report.

Amez United Credit Union is the second federally insured credit union liquidation in 2013.

IR Press

Share
Published by
IR Press

Recent Posts

Acting Comptroller Issues Statement on Financial Stability Oversight Council’s Report on Nonbank Mortgage Servicing

WASHINGTON — Acting Comptroller of the Currency Michael J. Hsu today issued the following statement…

2 days ago

The Financial Stability Oversight Council Releases Report on Nonbank Mortgage Servicing

WASHINGTON — The Financial Stability Oversight Council (Council) today released its Report on Nonbank Mortgage…

3 days ago

READOUT: Financial Stability Oversight Council Meeting on May 10, 2024

WASHINGTON – Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of…

3 days ago

Treasury Announces Plan to Sell Airline Warrants

WASHINGTON – The U.S. Department of the Treasury announced today its intention to conduct a…

3 days ago

United States Sanctions Senior Leader of the LockBit Ransomware Group

The United States reveals the identity of and imposes sanctions on Dmitry Khoroshev, a senior…

6 days ago