The $14.5M cooperative’s net worth falls from 8.31% to 1.39% over a year’s span.
The state chartered $141,494 Metropolitan Church of God CU is handed over to the NCUA for liquidation.
Net worth at the credit union drops from 11% in Sept. 2013 to 0.85% one year later.
The NCUA liquidates the $5M Louden Community CU. Its June 30 financials are far better than peers.
After IBEW Local 816's July 10 liquidation, C-Plant picks up most of its loan portfolio and members.
ASI liquidates the $14M Illinois institution after declaring it insolvent.
NCUA Chairman Debbie Matz tells Congress the rule could have prevented 14 credit union failures.
The IBEW Local 816 FCU was ruled insolvent despite conflicting financial reports.
FBI agents confiscate 91 firearms from Linda Newcomb's home prior to her June 17 arrest.
The Richmond, Va.-based credit union can't recover net worth after recession losses.