August 24, 2014

P&A of IBEW Local 816 FCU complete

Aug. 15, 2014 – NCUA said Thursday that C-Plant Federal Credit Union has completed the purchase and assumption of the former IBEW Local 816 Federal Credit Union's membership and most of its loan portfolio.

Both credit unions are in Paducah, Ky. NCUA said it liquidated IBEW Local 816 FCU July 10 after finding it was insolvent and had no prospect for restoring viable operations.

C-Plant FCU's latest call report showed the community-chartered institution has 15,062 members and assets of $178.7 million. It serves people who live, work, worship or attend school in Ballard, Graves, Livingston or McCracken counties in Kentucky.