The NCUA announced it liquidated Helping Other People Excel FCU of Jackson, N.J., according to a Nov. 20 press release.
The $626,529, 110-member credit union was placed into conservatorship on Oct. 16. The NCUA decided to liquidate the credit union after determining it was insolvent with no prospect for restoring viable operations.
The troubled credit union was operated by Pinnacle FCU of Edison, N.J. during the conservatorship.
In July, two men who were allegedly controlling the credit union were accused of running a phony company to operate an unlicensed internet bitcoin exchange scheme to launder money for criminals, according to New York Federal prosecutors.
© 2025 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.
