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List Of Failed Credit Unions From 2012 To 2023

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Jan 22, 2024
List Of Failed Credit Unions From 2012 To 2023List Of Failed Credit Unions From 2012 To 2023

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.

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