The $8.1 million Vensure Federal Credit Union, the Arizonacredit union that at one time made most of its money byprocessing transactions for Internet poker sites, is no more.
The NCUA announced it has liquidated the Mesa-based credit unionon July 11, the same day a court case the CU brought to prevent aliquidation seemed to be drawing to a close.
“NCUA made the decision to close Vensure FCU and discontinue itsoperation after determining the credit union was insolvent and hasno prospects for restoring viable operations” the agency announced,adding that at the time of liquidation the credit union served 140members and had deposits of approximately $8.1 million. The agencyhad conserved Vensure on April 15.
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