NCUA Liquidates Two CUs

ALEXANDRIA, Va. – NCUA recently liquidated two credit unions. It announced April 30 that it liquidated Oak Cliff Community Federal Credit Union in Dallas and authorized purchase and assumption of its assets and shares by Your Federal Credit Union. Your Federal Credit Union, which has already taken over the East Illinois Ave. branch location, immediately began service to Oak Cliff Community’s 1,670 members. The National Credit Union Share Insurance Fund insures members’ funds up to $100,000. Your Federal Credit Union holds more than $147 million in assets and serves over 16,600 members. NCUA has also closed the doors on Brooklyn Ecumenical Federal Credit Union in Brooklyn, New York. People’s Alliance Federal Credit Union, with $200 million in assets, has been authorized to purchase and assume its assets and shares and began serving Brooklyn Ecumenical’s members immediately. Brooklyn Ecumenical served 2,850 members in contrast with People’s Alliance’s with 40,000 members. People’s Alliance was chartered to serve Pan American World Airways, Inc. employees but expanded its membership to include several employee and associational groups in New York City and the tri-state area.