Deposits Remain Federally Insured up to $250,000; Member Service Continues Uninterrupted
April 8, 2011 -- The National Credit Union Administration (NCUA) today
placed Mission San Francisco Federal Credit Union of San Francisco, California, into
liquidation. Immediately thereafter, Self-Help Federal Credit Union of Durham, North Carolina,
purchased and assumed Mission San Francisco’s assets, liabilities and members.
The new Self-Help Federal Credit Union members will experience no interruption in credit union
service, and their accounts remain federally insured up to $250,000 by the National Credit Union
Share Insurance Fund (NCUSIF). Self-Help Federal Credit Union is a full-service institution
with $210 million in assets and 31,000 members.
NCUA assumed control of operations at Mission San Francisco Federal Credit Union on April 8,
2011, and immediately signed an agreement with Self-Help Federal Credit Union. The
agreement allows for continued service to the former members of Mission San Francisco at a
safe, sound credit union.
At closure, Mission San Francisco had approximately $6 million in assets and served 2,500
members. The former credit union was established in 1971 to serve members located in the
Mission District in San Francisco, California. This is the sixth federally insured credit union
liquidation in 2011.