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.
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