Palisades Federal Credit Union of Pearl River, N.Y., grew again last week by again taking most of the assets of a small New York credit union in liquidation.

NCUA liquidated and closed the Radio, Television and Communication Federal Credit Union of Staten Island ($3.1 million in assets, 416 members as of June 30) on Friday "after determining the credit union was insolvent with no prospect for restoring viable operations on its own," a NCUA news release said. It was the seventh federally insured credit union liquidation this year.

Radio, Television and Communication lost $205,675 in 2016 and $262,994 in 2017 and $75,355 in the first half of 2018.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Jim DuPlessis

A journalist for decades.