Kinecta Assumes I.C.E. FCU Assets in P&A Deal
The NCUA announced Wednesday it has executed a purchase and assumption agreement with the $2.3 billion Kinecta FCU of Manhattan Beach, Calif. in which the 242,000-member credit union will assume the assets, shares and memberships of the seized $3.4 million I.C.E FCU.
The former members of I.C.E. FCU in Inglewood will receive information by mail from Kinecta and NCUA’s Asset Management and Assistance Center, the regulator said in a release.