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.
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
Already have an account? Sign In Now
© 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.
