The NCUA liquidated BCT FCU yesterday and announced that Visions FCU had agreed to purchase its assets, liabilities and member shares.

BCT FCU, a $41.3 million credit union in Binghamton, N.Y., saw its assets decline by 26.9% in the third quarter of this year, which followed a 1.1% drop in the second quarter and 3.3% increase in the first quarter.

Its net income declined 2,544% in the third quarter, as a result of a $9.5 million loss. This follows a 77.8% increase in income in the second quarter and a 259% increase in income during the first quarter.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Regulatory & Compliance