March 18, 2013 – NCUA on Friday announced that it had liquidated two small California-based credit unions – I.C.E. FCU in Inglewood, and Pepsi Cola FCU in Buena Park.
According to the most recent call report data, I.C.E. FCU had roughly $3.4 million in assets and 942 members at the time of its closing; Pepsi Cola FCU had roughly $652,000 in assets and 558 members.
NCUA said it made the decision to liquidate both credit unions and discontinue their operations after determining they were insolvent and had no prospect for restoring viable operations.
NCUA’s Asset Management and Assistance Center will issue correspondence to individuals holding verified share accounts in those credit unions within one week.
Chartered in 1939, I.C.E. FCU served employees of the City of Inglewood and their immediate family members. Pepsi Cola FCU was charted in 1956 to serve employees of the Pepsi Cola Bottling Company.
I.C.E. FCU and Pepsi Cola FCU are the third and fourth federally insured credit unions liquidated this year, respectively.