Oakland Municipal Credit Union Closes

Members Now Served by Western Federal Credit Union


February 4, 2011 Alexandria, Virginia -- The National Credit Union Administration (NCUA) today was appointed liquidating agent of Oakland Municipal Credit Union of Oakland, by the California Department of Financial Institutions (DFI); and Western Federal Credit Union of Manhattan Beach, California, immediately purchased and assumed Oakland Municipalís assets, liabilities and members.


The new Western Federal Credit Union members will experience no interruption in credit union service, and their accounts remain federally insured up to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF). Western Federal Credit Union is a large, full service institution with $1.5 billion in assets and 148,000 members. Western Federal Credit Union will continue to serve members of Oakland Municipal Credit Union at the existing branch office located at 150 Frank H. Ogawa Place.


At closure, Oakland Municipal had approximately $88 million in assets and served 7,800 members. The credit union was established in 1964 to serve employees of Oakland area federal, state, and local government. This is the first federally insured credit union liquidation in 2011.



Find a credit union by city, state, or name:

Find Local Credit Unions

Find a credit union


Order your credit report online

Special offer to credit union members. See your instant credit report.

Sponsored Sites


MERit Credit Engine for credit unions provides automated Internet credit report retrieval for scoring, system integration, three bureau merged and Open Standard XML reports.


Free credit report UK and Canada
Monitor your credit and protect against identity theft! Who checked your credit report recently, and what did they see?