The NCUA has liquidated its fourth federally insured credit union of the year.
The agency made the decision to liquidate Trailblazer Federal Credit Union of Washington, Penn., today and discontinue its operations after determining the credit union was not solvent. In a news release, the NCUA said the credit union had no prospect for restoring viable operations.
The $131.5 million Chrome Federal Credit Union, also of Washington, Penn., took over all members and deposits immediately.
According to the news release, at the time of the liquidation, Trailblazer FCU served 1,535 members and had assets of $4.1 million, according to the credit union's most recent Call Report. Chartered in 1956, Trailblazer FCU served the employees of Pennsylvania's Washington County and their immediate family members.
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