New York FCU Is Liquidated
The 6,800-member Eastern New York Federal Credit Union in Napanoch, N.Y., was liquidated by the NCUA on Jan. 27.
The $758 million USAlliance FCU of Rye, N.Y., immediately assumed Eastern New York FCU’s members, loans, debts and assets, including deposits of approximately $49 million, the NCUA said.
“NCUA made the decision to liquidate Eastern New York Federal Credit Union and discontinue its operations after determining the credit union was insolvent and has no prospect for restoring viable operations on its own,” the agency said in a statement.
Eastern New York FCU was chartered in 1961, had six locations and served state and government industry employees located in nine counties of New York State.