ALEXANDRIA, Va. — Alliant Credit Union of Chicago, has purchased the assets and assumed all member shares of the recently liquidated Kaiperm FCU of Oakland, CA, the NCUA announced today.
Kaiperm's former members will receive uninterrupted service from Alliant, which has $5.7 billion in assets.
Its latest financial report, filed June 30 with NCUA, indicated Kaiperm had $95 million in assets and had lost $3.9 million in the second quarter. Its loan income had increased 2.5% and its investment income was down 28.5%. Kaiperm had approximately 18,000 members.
Alliant is a state-chartered, federally insured institution headquartered. It was chartered in 1935 to serve employees of United Airlines and has more than 216,000 members.
All accounts at federally-insured credit unions are insured up to at least $100,000 by the National Credit Union Share Insurance Fund, an entity of the federal government operated by NCUA. Certain retirement accounts, such as IRA and KEOGH accounts, are insured up to $250,000.
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