The NCUA announced today that it had liquidated Free Choice Federal Credit Union and member accounts were purchased and assumed by Trumark Financial Credit Union.
The financial condition of Free Choice in Feasterville, Pa. required shuttering the tiny credit union that held just $326,000 in assets. Trumark, located in Trevose, Pa., is a $1.25 billion community chartered credit union.
NCUA said the action was taken to protect member assets while addressing the credit union's operational issues.
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TFCU is a full service credit union serving 91,000 members in neighboring counties in southeastern Pennsylvania. Member accounts are insured up to $250,000 by the NCUSIF.
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