NCUA Liquidates Friendship Community FCU
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.