List Of Failed Credit Unions From 2012 To 2023
Seven credit unions were placed under conservatorship or liquidation by the National Credit Union Administration (NCUA) in 2022, with two already in 2023.
While credit unions failed multiple times in 2022, there were no Federal Deposit Insurance Corp. (FDIC) bank failures between 2021 and the March 10 closing of Silicon Valley Bank.
Notably, there were no credit union failures immediately following the bankruptcy of Silicon Valley Bank. “The credit union system remains well-capitalized and on solid footing,” stated NCUA Chairman Todd Harper in a March 13 statement.
According to the NCUA, if a credit union addresses its operational issues, it can return to member ownership. Conservatorships can merge into another NCUA credit union or be liquidated by the NCUA.
The following list includes NCUA conservatorships and liquidations. Conservatorships, mergers with NCUA support, voluntary liquidations, and involuntary liquidations occurred between 2012 and 2023.
The NCUA oversees and manages the National Credit Union Share Insurance Fund (NCUSIF), which, like the FDIC, is guaranteed by the full faith and credit of the United States government. The NCUA defines standard share insurance coverage at $250,000. This is per share owner, per NCUA credit union, and ownership category.
For further information on checking and savings accounts, look into credit unions in your area.
Credit union conservatorships and liquidations from 2012 to 2023.
Conservatorships
| Credit Union | Date closed | Status |
|---|---|---|
| Valwood Park Federal Credit Union, Carrollton, TX | 01/20/2023 | Active |
| Richmond City Employees Federal Credit Union, Richmond, IN | 12/12/2022 | Active |
| Mingo County Education Federal Credit Union, Williamson, WV | 10/07/2022 | Active |
| O. F. Toalston Federal Credit Union, Logan, WV | 10/07/2022 | Active |
| Pomona Postal Federal Credit Union, Pomona, CA | 11/05/2021 | Active |
| Empire Financial Federal Credit Union, Jackson, NJ | 05/24/2021 | Active |
| Edinburg Teachers Credit Union, Edinburg, Texas | 03/26/2021 | Active |
| C O Federal Credit Union, Charleston, SC | 01/05/2021 | Active |
| Southern Pine Credit Union, Valdosta, GA | 06/11/2020 | Released |
| Municipal Credit Union, New York | 05/17/2019 | Released |
| Mid East Tennessee Community Credit Union, Decatur, TN | 04/23/2019 | Merged |
| Beverly Bus Garage Federal Credit Union, Chicago | 03/14/2018 | Merged |
| Ukrainian Future Credit Union, Warren, MI | 02/23/2018 | Merged |
| Louisville Metro Police Officers Credit Union, Louisville, KY | 12/15/2017 | Closed |
| LOMTO Federal Credit Union, Woodside, NY | 06/26/2017 | Closed |
| Citizens Community Credit Union, Devils Lake, ND | 06/23/2017 | Merged |
| Riverdale Credit Union, Selma, AL | 06/22/2017 | Closed |
| Community United Federal Credit Union, Waycross, GA | 04/20/2017 | Merged |
| Shreveport Federal Credit Union, Shreveport, LA | 04/13/2017 | Closed |
| Melrose Credit Union, Briarwood, NY | 02/10/2017 | Closed |
| Valley State Credit Union, Saginaw, MI | 11/09/2016 | Closed |
| Cory Methodist Church Credit Union, Cleveland | 02/04/2016 | Merged |
| Clarkston Brandon Community Credit Union, Clarkston, MI | 01/13/2016 | Merged |
| Helping Other People Excel Federal Credit Union, Jackson, NJ | 11/20/2015 | Closed |
| Montauk Credit Union, New York | 09/18/2015 | Merged |
| Bethex Federal Credit Union, Bronx, NY | 09/18/2015 | Closed |
| New Bethel Federal Credit Union, Portsmouth, VA | 04/30/2015 | Closed |
| Montgomery County Credit Union, Dayton, OH | 04/23/2015 | Merged |
| Health One Credit Union, Detroit | 05/16/2014 | Closed |
| Parsons Pittsburg Credit Union, Parsons, KS | 01/24/2014 | Closed |
| Bagumbayan Credit Union, Chicago | 12/12/2013 | Closed |
| Mayfair Federal Credit Union, Philadelphia | 11/01/2013 | Closed |
| PEF Federal Credit Union, Highland Heights, OH | 06/21/2013 | Closed |
| First Kingdom Community Credit Union, Selma, AL | 05/16/2013 | Closed |
| NCP Community Development Federal Credit Union, Norfolk, VA | 02/08/2013 | Closed |
| Trinity Credit Union, Trinidad, CO | 07/27/2012 | Merged |
| Telesis Community Credit Union, Chatsworth, CA | 03/23/2012 | Closed |
| A M Community Credit Union, Kenosha, WI | 02/17/2012 | Closed |
| People for People Development Credit Union, Philadelphia | 01/06/2012 | Closed |
Mergers with NCUA assistance
| Credit Union | Date closed | Status |
|---|---|---|
| Bay Ridge Federal Credit Union, Brooklyn, NY | 10/01/2018 | Merged |
| Good Street Baptist Church Federal Credit Union, Dallas | 11/30/2017 | Merged |
| Eaton Employees Credit Union, Spencer, IA | 11/30/2017 | Merged |
| Tri-Rivers Federal Credit Union, Montgomery, AL | 10/31/2017 | Merged |
| MADCO Credit Union, Edwardsville, IL | 08/31/2017 | Merged |
| Love Gospel Assembly Federal Credit Union, Bronx, NY | 07/31/2017 | Merged |
| Anchor Seven Federal Credit Union, Jacksonville, FL | 11/01/2016 | Merged |
| Cory Methodist Church Credit Union, Cleveland | 09/01/2016 | Merged |
| Immanuel Baptist Church Federal Credit Union, New Haven, CT | 08/17/2016 | Merged |
| Community Trust Federal Credit Union, Apopka, FL | 01/01/2016 | Merged |
| Northwest Baptist Credit Union, Seattle | 10/01/2015 | Merged |
| Quemado Federal Credit Union, Quemado, TX | 09/30/2015 | Merged |
| 65 Family Federal Credit Union, New York | 07/01/2015 | Merged |
| Kolmar NY Employees Federal Credit Union, Port Jervis, NY | 07/01/2015 | Merged |
| New Mexico Correctional Employees Federal Credit Union, Santa Fe, NM | 02/01/2015 | Merged |
| Macon County School Employees Federal Credit Union, Decatur, IL | 08/31/2014 | Merged |
| Tombstone Federal Credit Union, Tombstone, AZ | 05/01/2014 | Merged |
| Oldham Family Alliance Federal Credit Union, Baltimore | 03/31/2014 | Merged |
| Union Settlement Federal Credit Union, New York | 03/14/2014 | Merged |
| Jayhawk Federal Credit Union, Lawrence, KS | 02/28/2014 | Merged |
| S J H Employees’ Credit Union, Springfield, IL | 12/01/2013 | Merged |
| Southside Credit Union, San Antonio | 11/30/2013 | Merged |
| Greater Oregon Federal Credit Union, Burns, OR | 08/05/2013 | Merged |
| Zane Trace Federal Credit Union, Zanesville, OH | 06/30/2013 | Merged |
| El Barrio Federal Credit Union, New York | 11/16/2012 | Merged |
| CR Community First, Eagle Butte, SD | 09/04/2012 | Merged |
| Branch 825 NALC Credit Union, Oak Brook, IL | 06/30/2012 | Merged |
| California Pacific Federal Credit Union, Concord, CA | 05/24/2012 | Merged |
| C.D. Federal Credit Union, Concord, CA | 05/24/2012 | Merged |
| H.A.A. Federal Credit Union, Houston | 03/31/2012 | Merged |
| H.B.E. Credit Union, Seward, NE | 02/26/2012 | Merged |
| Kunia Federal Credit Union, Waipahu, HI | 01/06/2012 | Merged |
Voluntary liquidations
| Credit Union | Date closed | Status |
|---|---|---|
| New Bethel Federal Credit Union, Portsmouth, VA | 08/05/2015 | Closed |
| Bagumbayan Credit Union, Chicago | 01/21/2014 | Closed |
| First Kingdom Community Federal Credit Union, Selma, AL | 05/31/2013 | Closed |
Involuntary liquidations
| Credit Union | Date closed | Status |
|---|---|---|
| Inter-American Federal Credit Union, Brooklyn, NY | 03/08/2023 | Closed |
| O. F. Toalston Federal Credit Union, Logan, WV | 11/15/2022 | Closed |
| Mingo County Education Federal Credit Union, Williamson, WV | 11/15/2022 | Closed |
| Paducah Teachers Federal Credit Union, Paducah, KY | 09/30/2022 | Closed |
| Empire Financial Federal Credit Union, New York, NY | 03/04/2022 | Closed |
| Portsmouth Schools Federal Credit Union, Portsmouth, VA | 12/30/2021 | Closed |
| C O Federal Credit Union, Charleston, SC | 09/17/2021 | Closed |
| Defense Logistics Federal Credit Union, Dover, NJ | 07/01/2021 | Closed |
| Indianapolis Newspaper Federal Credit Union, Indianapolis, IN | 03/31/2021 | Closed |
| IBEW Local Union 712 Federal Credit Union, Beaver, PA | 05/29/2020 | Closed |
| CBS Employees Federal Credit Union, Studio City, CA | 03/29/2019 | Closed |
| Radio, Television and Communication Federal Credit Union, Staten Island, NY | 10/12/2018 | Closed |
| LOMTO Federal Credit Union, Woodside, NY | 09/30/2018 | Closed |
| Melrose Credit Union, Briarwood, NY | 08/31/2018 | Closed |
| Greater Christ Baptist Church Credit Union, Detroit | 07/31/2018 | Closed |
| Louisville Metro Police Officers Credit Union, Louisville, Kentucky | 06/29/2018 | Closed |
| First Jersey Credit Union, Wayne, NJ | 02/28/2018 | Closed |
| St. Elizabeth’s Credit Union, Chicago | 01/30/2018 | Closed |
| Riverdale Credit Union, Selma, AL | 12/04/2017 | Closed |
| New York State Employees Federal Credit Union, NY | 10/27/2017 | Closed |
| Shreveport Federal Credit Union, Shreveport, LA | 10/02/2017 | Closed |
| Valley State Credit Union, Saginaw, MI | 03/31/2017 | Closed |
| Florida Conference AME Church (FCAMEC) Federal Credit Union, Tallahassee, FL | 03/17/2017 | Closed |
| First African Baptist Church Federal Credit Union, Sharon Hill, PA | 11/29/2016 | Closed |
| Servco Federal Credit Union, Bensalem, PA | 04/05/2016 | Closed |
| Cardozo Lodge Federal Credit Union, Bensalem, PA | 04/05/2016 | Closed |
| Chester Upland School Employees Federal Credit Union, Chester, PA | 04/05/2016 | Closed |
| Triangle Interests % Service Center Federal Credit Union, Bensalem, PA | 04/05/2016 | Closed |
| Electrical Inspectors Federal Credit Union, Bensalem, PA | 04/05/2016 | Closed |
| O P S EMP Federal Credit Union, Bensalem, PA | 04/05/2016 | Closed |
| Veterans Health Administration Credit Union, Detroit | 03/29/2016 | Closed |
| Education Associations Federal Credit Union, Washington, DC | 03/04/2016 | Closed |
| Mildred Mitchell-Bateman Hospital Federal Credit Union, Huntington, WV | 02/24/2016 | Closed |
| CTK Credit Union, Milwaukee | 02/05/2016 | Closed |
| First Hawaiian Homes Federal Credit Union, Hoolehua, HI | 12/29/2015 | Closed |
| Bethex Federal Credit Union, Bronx, New York | 12/18/2015 | Closed |
| Greater Abyssinia Federal Credit Union, Cleveland | 12/01/2015 | Closed |
| Helping Other People Excel Federal Credit Union, Jackson, NJ | 11/20/2015 | Closed |
| SWC Credit Union, Tampa, FL | 09/24/2015 | Closed |
| SCICAP Credit Union, Chariton, IA | 08/28/2015 | Closed |
| Lakeside Federal Credit Union, Hammond, IN | 07/16/2015 | Closed |
| Trailblazer Federal Credit Union, Washington, PA | 07/10/2015 | Closed |
| TLC Federal Credit Union, Tillamook, OR | 04/30/2015 | Closed |
| North Dade Community Development Federal Credit Union, Miami Gardens, FL | 03/31/2015 | Closed |
| American Bakery Workers Federal Credit Union, Philadelphia | 01/30/2015 | Closed |
| Health One Credit Union, Detroit | 12/12/2014 | Closed |
| Metropolitan Church of God Credit Union, Detroit | 12/03/2014 | Closed |
| County & Municipal Employees Credit Union, Edinburg, TX | 10/10/2014 | Closed |
| Republic Hose Employees Federal Credit Union, Youngstown, OH | 09/30/2014 | Closed |
| Louden Depot Community Credit Union, Fairfield, IA | 09/05/2014 | Closed |
| IBEW Local 816 Federal Credit Union, Paducah, KY | 07/10/2014 | Closed |
| Life Line Credit Union, Richmond, VA | 05/23/2014 | Closed |
| Mayfair Federal Credit Union, Philadelphia | 03/31/2014 | Closed |
| Parsons Pittsburg Credit Union, Parsons, KA | 03/21/2014 | Closed |
| St. Francis Campus Credit Union, Little Falls, MI | 02/14/2014 | Closed |
| Polish Combatants Credit Union, Bedford, OH | 11/22/2013 | Closed |
| Craftsman Credit Union, Detroit | 09/06/2013 | Closed |
| Taupa Lithuanian Credit Union, Cleveland. OH | 07/15/2013 | Closed |
| PEF Federal Credit Union, Highland Heights, OH | 07/01/2013 | Closed |
| Ochsner Clinic Federal Credit Union, New Orleans | 06/28/2013 | Closed |
| NCP Community Development Federal Credit Union, Norfolk, VA | 05/31/2013 | Closed |
| Electrical Workers #527 Federal Credit Union, Texas City, TX | 05/23/2013 | Closed |
| Lynrocten Federal Credit Union, Lynchburg, VA | 05/03/2013 | Closed |
| Shiloh of Alexandria Federal Credit Union, Alexandria, VA | 04/12/2013 | Closed |
| I.C.E. Federal Credit Union, Inglewood, CA | 03/15/2013 | Closed |
| Pepsi Cola Federal Credit Union, Buena Park, CA | 03/15/2013 | Closed |
| Amez United Credit Union, Detroit | 02/19/2013 | Closed |
| New Covenant Missionary Baptist Church Credit Union, Milwaukee | 01/07/2013 | Closed |
| Chetco Federal Credit Union, Harbor, OR | 12/31/2012 | Closed |
| Olean Federal Credit Union, Olean, NY | 12/17/2012 | Closed |
| G.I.C. Federal Credit Union, Euclid, OH | 12/13/2012 | Closed |
| Border Lodge Credit Union, Derby, VT | 11/30/2012 | Closed |
| Women’s Southwest Federal Credit Union, Dallas | 10/31/2012 | Closed |
| U.S. Central Bridge Corporate Federal Credit Union, Lenexa, KS | 10/29/2012 | Closed |
| El Paso’s Federal Credit Union, El Paso, TX | 09/28/2012 | Closed |
| United Catholic Credit Union, Temperance, MI | 08/09/2012 | Closed |
| A M Community Credit Union, Kenosha, WI | 08/01/2012 | Closed |
| Western Bridge Corporate Federal Credit Union, San Dimas, CA | 07/06/2012 | Closed |
| Telesis Community Credit Union, Chatsworth, CA | 06/01/2012 | Closed |
| Wausau Postal Employees Credit Union, Wausau, WI | 05/18/2012 | Closed |
| Shepherd’s Federal Credit Union, Charlotte, NC | 03/26/2012 | Closed |
| Saguache County Credit Union, Moffat, CO | 03/23/2012 | Closed |
| People for People Community Development Credit Union (CDCU), Philadelphia | 02/19/2012 | Closed |
| Eastern New York Federal Credit Union, Napanoch, NY | 01/27/2012 | Closed |
How many credit unions have failed in the US?
Nationally, two have already gone bankrupt in 2023, and on average seven collapsed in each of the previous five years, according to data compiled by the National Credit Union Administration, a government organization similar to the FDIC or Government Deposit Insurance Corporation.
How many banks failed in 2011?
There were 92 bank failures in 2011.
How many US banks have failed in 2023?
There are five bank failures in 2023. See the detailed descriptions below. Please use the icons below to view information from previous years. Iowa Trust & Savings Bank will assume all of Citizens Bank’s deposits and assets.
Who are the top 5 credit unions? second
Best credit unions
- Best overall: Alliant Credit Union.
- Runner-up: PenFed Credit Union.
- Best for high APY: Consumers Credit Union (CCU)
- Best for low-interest credit cards: First Tech Federal Credit Union.
- Best for military members: Navy Federal Credit Union.
What 3 US banks failed in 2023?
The failures of First Republic Bank, Silicon Valley Bank, and Signature Bank were the second-, third–, and fourth-largest bank failures in US history, trailing only Washington Mutual’s collapse during the 2007-2008 financial crisis.
Have 3 banks failed in 2023?
Rising interest rates and a slowing economy resulted in failures at Silicon Valley Bank, Signature Bank, and First Republic Bank during what is now known as the banking crisis of 2023.
How many banks failed in 2015?
There were eight bank failures in 2015.