The NCUA said Tuesday it liquidated the $581,487 Republic Hose Employees Federal Credit Union in Youngstown, Ohio.
"NCUA made the decision to liquidate Republic Hose Employees Federal Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations," the NCUA said in a press release.
Republic Hose Employees FCU was the eighth federally insured credit union to be liquidated in 2014.
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