by STAFF WRITER Published October 30, 2010 Credit Unions Online
NCUA was appointed liquidating agent of The Union Credit Union of Spokane, Washington, by the Washington Department of Financial Institutions (DFI) after DFI closed The Union Credit Union. Immediately following appointment as The Union Credit Union liquidating agent, NCUA entered into agreements with Alaska USA Federal Credit Union of Anchorage and Numerica Credit Union of Spokane to purchase and assume certain assets and liabilities of The Union Credit Union.
The Union Credit Union members will experience no interruption of service and immediately become members of Numerica Credit Union. Their accounts remain federally insured by the National Credit Union Share Insurance Fund (NCUSIF) up to at least $250,000.
Numerica Credit Union has $1 billion in assets and serves approximately 84,000 members. It is located at 14610 E. Sprague Avenue in Spokane. Alaska USA Federal Credit Union has $4.1 billion in assets and serves approximately 399,000 members.
At the time of liquidation, The Union Credit Union had approximately $11,909,715 in assets and served 3,115 members. The Union Credit Union was established in 1968 to serve the members of Bricklayers Local 3. This is the 17th federally insured credit union liquidation in 2010.