The NCUA on Oct. 2 liquidated Shreveport Federal Credit Union in Louisiana.
Red River Employees Federal Credit Union of Texarkana, Texas immediately assumed the credit union's membership and most shares, loans and other assets. Red River serves 84,093 members and has assets of more than $804 million.
The NCUA made the decision after determining that the credit union was insolvent and had no chance of restoring viable operations. At the time of the liquidation and purchase, the Shreveport credit union served 22,122 members and had assets of about $86 million.
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.
