The Wisconsin Office of Credit Unions appointed the NCUA as liquidating agent for CTK Credit Union after serving the Milwaukee-based institutionwith an order of liquidation on Feb. 5.
|The Wisconsin Office of Credit Unions made the decision toliquidate CTK Credit Union and discontinue operations afterdetermining the credit union was insolvent and had no prospect forrestoring viable operations.
|As of Dec. 31, CTK reported just 5.88% net worth to the NCUA,down from 7.04% in the third quarter of 2015. The 397-member creditunion also reported 22.98% delinquent loans to total loans as ofDec. 31.
|CTK had assets of $163,197. Chartered in 2004, it servedcongregants of Christ the King Baptist Church of Milwaukee.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
