Liquidations: Liquidation means a credit union has been closed however, a liquidated credit union may be purchased - and members, assets, and loans assumed - by another credit union, so that members will be able to continue receiving financial services. The NCUA can liquidate the credit union.The credit union can merge with another credit union or.The credit union can resolve its operational problems and be returned to member ownership.
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For federally chartered credit unions, the NCUA takes this action on its own in the case of a state-chartered credit union, the state supervisory authority initiates the conservatorship and in many cases appoints the NCUA as agent for the conservator.Ĭonservatorships can have three outcomes:
Conservatorships: From time to time, the National Credit Union Administration places a credit union into conservatorship in order to resolve operational problems that could affect that credit union’s safety and soundness. Conservatorship means the NCUA has taken control of the credit union. During a conservatorship, the credit union remains open members may transact business and accounts remain insured by the National Credit Union Share Insurance Fund (opens new window).
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