The NCUA liquidated the Friendship Community Federal Credit Union of Clarksdale, Miss. today and its assets were purchased by Shreveport Federal Credit Union of Shreveport, La.
Friendship Community FCU had $860,142 in assets at the end of December, a 2.8% decline since the end of October. Its delinquent loan ratio was 23.47% and it had a negative return on assets. It had 685 members.
Shreveport FCU has $76 million in assets and 14,500 members.
This is the second liquidation of a federally insured credit union this year.