The Fairfield County Ohio Federal Employees FCU became the 14th credit union closed by the NCUA this year. During the last quarter, the credit union's equity declined 359%, its loan income fell 75.3% and its investment income fell 100%, according to the financial report it filed with the NCUA. Its return on average assets was a negative 96.23%, down from a positive 1.09% in the second quarter. Its ratio of delinquent loans to total loans was 28.19%, up from zero in the second quarter. The Lancaster, Ohio-based credit union, which was chartered in 1957, had 747 members and approximately $1.4 million in assets.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • 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.
NOT FOR REPRINT

© 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.