The NCUA on April 30 liquidated the $109 million TLC Federal Credit Union of Tillamook, Ore.
NCUA made the decision to liquidate TLC Federal Credit Union and discontinue its operations after determining the credit union was insolvent with no prospect for restoring viable operations on its own. The NCUA's Asset Management and Assistance Center will take charge of certain assets of the closed credit union.
TLC fell into regulatory hot water during the fourth quarter of 2014, when its net worth fell from 6.31% to negative 0.77%.
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