The NCUA liquidated Mildred Mitchell-Bateman Hospital Federal Credit Union of Huntington, W.Va. Wednesday.
The agency said it decided to liquidate Mildred Mitchell-Bateman Hospital FCU and discontinue its operations after determining the credit union was insolvent and had no prospect for restoring viable operations.
Member deposits are federally insured by the National Credit Union Share Insurance Fund. Administered by the NCUA, the NCUSIF insures individual accounts up to $250,000, and a member's interest in all joint accounts combined is insured up to $250,000. The fund separately protects IRA and KEOGH retirement accounts up to $250,000, and has the backing of the full faith and credit of the United States.
The NCUA's Asset Management and Assistance Center will issue correspondence in the near future to members holding verified share accounts at the credit union. Members with additional questions about their insurance coverage may contact the Asset Management and Assistance Center toll-free at 877-715-0777 Monday through Friday between 9 a.m. and 6 p.m. Eastern Time. Members may also visit the Share Insurance section of the NCUA's MyCreditUnion.gov website at any time for more information about their insurance coverage.
Chartered in 1980, Mildred Mitchell-Bateman Hospital FCU served 57 members and had assets of $27,039, according to the credit union's most recent Call Report. Mildred Mitchell-Bateman Hospital FCU primarily served employees, doctors, medical staff and technicians who worked for Mildred Mitchell-Bateman Hospital in Huntington.
Mildred Mitchell-Bateman Hospital FCU is the second federally insured credit union to be liquidated in 2016.
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