Saying that it is "
minimally capitalized and there are no reasonable prospects for the credit union to achieve adequate capitalization," the NCUA today announced it was liquidating Kappa Alpha Psi FCU.
The Addison, Texas-based credit union, which had $779,854 in assets as of March 31, saw its loan income decline by 49.1% in the first quarter of 2010, the most recent data available. In the fourth quarter of last year the income fell 65%.
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