Women’s Southwest Federal Credit Union Closes

Member Deposits Protected up to $250,000 and Consumer Service Hotline Open

 

(Oct. 31, 2012) – The National Credit Union Administration (NCUA) today liquidated Women’s Southwest Federal Credit Union (WSFCU) of Dallas, Texas. NCUA made the decision to liquidate WSFCU and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.

 

WSFCU member deposits are federally insured by the National Credit Union Share Insurance Fund up to $250,000. NCUA’s Asset Management and Assistance Center will transfer certain share accounts to City Credit Union of Dallas, Texas. City Credit Union is a full-service, federally insured, state-chartered credit union with $259.6 million in assets and approximately 38,000 members.

 

For non-transferred accounts, NCUA’s Asset Management and Assistance Center will issue checks to individuals holding verified accounts in the credit union within one week.

 

WSFCU is the tenth federally insured credit union liquidation in 2012.

 

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