The NCUA has liquidated its fifth federally insured credit union of the year, just a week after liquidating Trailblazer Federal Credit Union in Washington, Penn.
Lakeside Federal Credit Union of Hammond, Ind. was liquidated Thursday and operations were suspended after the agency determined it to be insolvent.
In a news release, the NCUA said the credit union had no prospect for restoring viable operations.
Members of the credit union will be notified by mail of the closure.
Answers to questions about the credit union's closing can be found online at MyCreditUnion.gov or by calling 800-715-0777.
According to the news release, at the time of the liquidation, Lakeside FCU served 2,280 members and had assets of $8.9 million, based on the credit union's most recent Call Report.
Chartered in 1950, Lakeside FCU served the employees and family members of Trans Union Corporation in Lincolnshire, Ind. and Chicago.
In addition, it served employees of Union Tank Car Company, Trans Union Systems Corporation and several smaller employers in northwest Indiana and their family members.
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