NCUA announces P&A for I.C.E. FCU
March 21, 2013 – Members of the recently liquidated I.C.E. FCU are now served by Kinecta FCU of Manhattan Beach, Calif., NCUA announced Wednesday.
The agency approved a purchase and assumption of I.C.E.’s assets, shares and membership by Kinecta FCU. The members will soon receive information by mail from Kinecta and NCUA’s Asset Management and Assistance Center, the agency said. NCUA said Kinecta has more than 242,000 members and assets of approximately $3.2 billion, according to its most recent call report.
NCUA liquidated I.C.E. FCU March 15 and discontinued its operations after determining it was insolvent and had no prospect for restoring viable operations.