Nov. 2, 2012 – NCUA on Wednesday liquidated the Dallas, Texas-based Women’s Southwest FCU after determining the institution was insolvent and no longer viable.
According to the most recent call report data, the credit union served 743 members and had deposits of roughly $2 million. Women’s Southwest FCU served numerous select groups centered primarily on women’s advocacy, interests and affiliations. The credit union also served an underserved area in Dallas and other affinity groups.
The NCUA Asset Management and Assistance Center will transfer certain share accounts to City CU in Dallas. For non-transferred accounts, the AMAC will issue checks to individuals holding verified accounts in the credit union within one week. City CU is a full-service credit union with $259.6 million in assets and some 38,000 members.
NCUA said Women’s Southwest FCU is the 10th federally insured credit union liquidated this year.