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September 30, 2014
NCUA liquidates CU in Ohio
NCUA on Tuesday liquidated Republic Hose Employees Federal Credit Union of Youngstown, Ohio, stating that the credit union was "insolvent and had no prospect for restoring viable operations."
NCUA said its Asset Management and Assistance Center will issue correspondence in the near future to individuals holding verified share accounts in the credit union (see full announcement).
Republic Hose Employees FCU had 455 members and $581,487 in assets, according to its most recent call report. Chartered in 1940, it served employees of Republic Hose Manufacturing Corporation and Youngstown Steel Door Company and immediate family members.
NCUA said this is the eighth federally insured credit union liquidated in 2014.
NCUA said its Asset Management and Assistance Center will issue correspondence in the near future to individuals holding verified share accounts in the credit union (see full announcement).
Republic Hose Employees FCU had 455 members and $581,487 in assets, according to its most recent call report. Chartered in 1940, it served employees of Republic Hose Manufacturing Corporation and Youngstown Steel Door Company and immediate family members.
NCUA said this is the eighth federally insured credit union liquidated in 2014.
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