Two California Credit Unions Are Closed

Posted by Orb Staff on March 18, 2013 No Comments
Categories : Residential Mortgage

13482_closed Two California Credit Unions Are Closed The National Credit Union Administration (NCUA) has announced the closure of two California credit unions.

Pepsi Cola Federal Credit Union of Buena Park, Calif., was liquidated after the NCUA determined it was insolvent and had no prospect for restoring viable operations. Chartered in 1956, the $652,000-asset Pepsi Cola Federal Credit Union served 558 members who were employees of Pepsi Cola Bottling Co.

I.C.E. Federal Credit Union of Inglewood, Calif., was also liquidated for the same reasons. Chartered in 1939, the $3.4 million-asset credit union served 942 members who were municipal employees of Inglewood and their families.

The closures bring the total number of liquidated federally insured credit unions for this year to four.

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