NCUA official seal NCUA official seal. (Source: NCUA)

The NCUA liquidated the $12 million Paducah Teachers Federal Credit Union in Paducah, Ky., determining it insolvent after it lost more than $2.1 million, plunging its net worth to -5.24% in the second quarter.

The $278 million C-Plant Federal Credit Union, also of Paducah, purchased some assets and assumed most of PTFCU’s share accounts, the NCUA said in a prepared statement released late Friday afternoon.

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Peter Strozniak

 

Credit Union Times

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