The NCUA liquidated BCT FCU yesterday and announced that Visions FCU had agreed to purchase its assets, liabilities andmember shares.
|BCT FCU, a $41.3 million credit union in Binghamton, N.Y., sawits assets decline by 26.9% in the third quarter of this year,which followed a 1.1% drop in the second quarter and 3.3% increasein the first quarter.
|Its net income declined 2,544% in the third quarter, as a resultof a $9.5 million loss. This follows a 77.8% increase in income inthe second quarter and a 259% increase in income during the firstquarter.
|Its net worth ratio was -8.4% at the end of the third quarter,compared with 12.8% at the end of the second quarter and 12.2% atthe end of the first quarter.
|BCT FCU's delinquent loan ratio was 1.14% at the end of thethird quarter, .39% at the end of the second quarter and .19% atthe end of March.
|Its return on average assets ratio was -28.79% at the end of thethird quarter, 1% at the end of the second quarter and .57% at theend of the first quarter.
|Visions Federal Credit Union, headquartered in Endicott, N.Y.,has $2.7 billion in assets and 127,000 members. BCT FCU had 3,900members.
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