The NCUA liquidated the $2.4 million Shiloh of Alexandria FCU just oneday after the failed credit union's manager had been laid torest.

According to an April 10 obituary published in theWashington Post, Shiloh's volunteer manager, John C.DuPree Jr., died April 4 at the age of 48.

His funeral was held on Thursday at the Shiloh Baptist Church'sWorship Center, just steps away from the failed credit union'soffices on the Shiloh Baptist campus, and only a couple of blocksfrom the NCUA's Alexandria, Va., headquarters.

Dan Morrissey, CEO of the $2 million Queen of Peace FCU ofArlington, Va., attended the funeral. Morrissey said he learned ofDuPree's death from Helen DuPree, John Jr.'s mother and widow ofJohnDuPree Sr., the community development credit union'sfounder.

Morrissey said the shock of DuPree's death was surpassed by theshock he experienced Saturday morning, when he read in CreditUnion Times that Shiloh of Alexandria had been liquidated.

“It's tough on small credit unions when these things happen,” hesaid. Morrissey said he hadn't heard why the credit union had beenliquidated, but said he thinks the NCUA will release moreinformation in the future.

The NCUA said it made the decision to liquidate the credit unionafter determining it was insolvent and had no prospect forrestoring viable operations. Shiloh of Alexandria's Dec. 31, 2012financial reports showed no history of trouble: it reported 16.52%net worth, 1.08% delinquent loans and no charge offs. Return onaverage assets was 1.37%.

A message left at Shiloh Baptist Church was not immediatelyreturned.

Morrissey said John DuPree Jr. worked full time at theEnvironmental Protection Agency and managed the credit union onnights and weekends. According to his obituary, burial was to be atArlington National Cemetery.