The Ohio Division of Financial Institutions liquidated the Polish Combatants Credit Union in Bedford, Ohio, on Friday and appointed the NCUA as liquidating agent.
“The Division of Financial Institutions made the decision to liquidate Polish Combatants Credit Union and discontinue its operations after determining the credit union had no prospect for restoring viable operations,” the state regulator said in a release.
However, according to the credit union's most recent Call Report, posted on the NCUA's website, it reported a 12.85% net worth, 0% delinquencies and no charge offs as of September 2013. The credit union had 52 members and $120,450 in assets.
Polish Combatants was charted in 1957 and served polish veterans of World War II. To date, 13 federally insured credit unions have been liquidated this year.
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