The Wisconsin Office of Credit Unions liquidated the $8.4 million Wausau Postal Employees CU of Wausau, Wis., on Friday and appointed the NCUA liquidating agent.
It is the fourth federally insured credit union liquidation this year.
The federal regulator immediately signed an agreement with the $1 billion CoVantage CU of Antigo, Wis., to purchase and assume Wausau Postal's assets, liabilities and membership. CoVantage, a state-chartered credit union, has more than 74,000 members with a field of membership that includes several counties in Wisconsin and two in Michigan.
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