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December 01, 2015
Greater Abyssinia FCU liquidated
NCUA yesterday liquidated the tiny Greater Abyssinia Federal Credit Union of Cleveland, Ohio, after declaring the credit union insolvent.
NCUA said the credit union had no prospect to restore viable operations. Abyssinia served 425 members and had assets of $412,775. It was chartered in 1959 to serve members of the Greater Abyssinia Baptist Church and their family members.
Abyssinia is the ninth federally insured credit union liquidated in 2015.
NCUA noted that credit union member deposits are federally insured by the National Credit Union Share Insurance Fund, with individual accounts insured up to $250,000. NCUA asked any members with questions to call its Asset Management and Assistance Center toll-free at 877-715-0777 or visit MyCreditUnion.gov.
NCUA said the credit union had no prospect to restore viable operations. Abyssinia served 425 members and had assets of $412,775. It was chartered in 1959 to serve members of the Greater Abyssinia Baptist Church and their family members.
Abyssinia is the ninth federally insured credit union liquidated in 2015.
NCUA noted that credit union member deposits are federally insured by the National Credit Union Share Insurance Fund, with individual accounts insured up to $250,000. NCUA asked any members with questions to call its Asset Management and Assistance Center toll-free at 877-715-0777 or visit MyCreditUnion.gov.
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