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NCUA Liquidates IBEW Local Union 712 FCU

West Penn P&P FCU assumes the assets, shares and loans of the credit union, which served an electricians’ organization.

Liquidated Source: Shutterstock

The NCUA liquidated IBEW Local Union 712 Federal Credit Union of Beaver, Penn., Friday – the agency’s first credit union liquidation announcement of 2020.

West Penn P&P Federal Credit Union, also of Beaver, immediately assumed IBEW Local Union 712’s assets, member shares and loans, the NCUA said. West Penn P&P has 2,150 members and assets of nearly $14.8 million, according to the credit union’s most recent Call Report.

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Natasha Chilingerian

Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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