The governor, attorney general and an NCUA Board member were onhand to welcome the re-opening of a small banking office that hasserved a Chicago neighborhood for more than 130 years.
|The former Second Federal Saving and Loan is now Second Federal,a division of Self-Help Federal Credit Union from Oakland,Calif.
|The Second Federal Savings and Loan failed in 2012 and the FDICstepped into to return the deposits and liquidate the institution'sassets, but Self-Help FCU purchased $141 million of the institution'smortgage loans in association with The Resurrection Project, alocal community development organization, and Wintrust FinancialCorp.
|“Second Federal has been a primary source of financialservices for the Little Village community that surrounds 26thStreet and Pulaski Avenue for more than 130 years. Second Federalwill continue to be available to help the community grow andprosper because of the commitment of Self-Help Federal CreditUnion,” NCUA Board Member Michael Fryzel, himself a Chicagoan, said at Saturday's event.
|Illinois Gov. Pat Quinn and Attorney General Lisa Madigan alsotook part in the reopening ceremony, the NCUA said.
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