The NCUA liquidated Bethex Federal Credit Union of Bronx, N.Y., the agencyannounced Friday.

USAlliance Federal Credit Union of Rye, N.Y. assumed BethexFederal Credit Union's assets and member shares, and the majorityof its loans. USAlliance is a federally chartered credit union with83,102 members and $1.7 billion in assets, according to its latestCall Report, and is designated as a low-income credit union.

The NCUA said it decided to liquidate Bethex and discontinue itsoperations after determining the credit union was insolvent and hadno prospect of restoring viable operations on its own. Bethex wasplaced into conservatorshipon Sept. 18, 2015 and is the 10th federally insured credit union tobe liquidated this year.

The NCUA said Bethex members should experience no interruptionin services and that their accounts will remain open. Members withquestions about their accounts may contact USAlliance FederalCredit Union at 800-431-2754 between 7:30 a.m. and 7 p.m. ET Mondaythrough Friday, or between 9 a.m. and 1 p.m. ET on Saturday.

At the time of the liquidation and subsequent purchase byUSAlliance, Bethex had assets of $12.2 million and served 5,824members, according to its most recent Call Report. Bethex servedvarious groups in New York City and was chartered in 1970.