The NCUA announced the liquidation of the Cleveland-based Greater Abyssinia Federal Credit Union Tuesday.
The regulator said in a statement it made the decision to liquidate the credit union and discontinue operations after determining Greater Abyssinia FCU was insolvent and had no prospect for restoring viable operations.
Further, the NCUA's Asset Management and Assistance Center will issue correspondence to individuals holding verified share accounts in the credit union.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 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.
