ALEXANDRIA, Va. — NCUA's Asset Management Assistance Center made payouts to members of the former Sharebuilders Federal Credit Union upon its liquidation.
NCUA announced today that it had liquidated the Northridge, Calif. credit union April 25 after determining it was insolvent. Sharebuilders was chartered in 1959 to serve employees and sales staff of the 3M Pharmaceutical plants located in Northridge and St. Paul, Minnesota. At the time of liquidation, the credit union had approximately 424 members and approximately $681,000 in assets.
Checks have been issued to verified share account holders at the credit union. NCUA assured that funds were insured to at least $100,000 per account. Member questions should be directed to NCUA's AMAC at 512-231-7900, fax 512-231-7920, or 4807 Spicewood Springs Road, Suite 5100, Austin, Texas 79759-8490.
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