Greater Harrisburg Community CU Liquidated

ALEXANDRIA, Va.-NCUA, working with the Pennsylvania Department of Banking, determined that Greater Harrisburg Community Credit Union was insolvent and shut it down. The agencies found that the relatively new institution had “no prospects of restoring viable operations.” According to a statement from NCUA, “Efforts to extend credit union service to members of Greater Harrisburg Community CU through merger or acquisition with another credit union were unsuccessful. Liquidation was considered the only viable option and is enacted only as a last resort.” Greater Harrisburg Community CU, federally insured up to $100,000 per account, had $1.6 million in assets and approximately 1,600 members at the time of liquidation. NCUA planned to distribute checks to members for their share deposits within three business days. The credit union was chartered in 2001 to serve the community of Harrisburg, Pa.