|
Depositor Alert |
NCUA Insured Deposits Unclaimed |
|
The National Credit
Union Administration (NCUA) supervises and insures over 7,329 federal
credit unions and 4,538 state-chartered credit unions. When a federally-insured credit union is liquidated, NCUA's Asset Liquidation Management Center - not the FDIC - assumes responsibility for paying share accounts to members. NCUSIF, The National Credit Union Share Insurance Fund, currently insures member deposits up to a $250,000 * limit. Since 1990, more than $331 million has been paid out to well over 100,000 shareholders. In 2011, fifteen credit unions were liquidated, purchased or assumed with NCUA assistance; down from nineteen in 2010 equal to the fifteen closed in 2009. ► Be advised that not every depositor with funds in a failed bank will receive notification from the NCUA; and there are time limits on claims. Accounts claimed within an 18-month insurance period are paid the full insured amount. After the 18-month insurance period, unclaimed shares are considered uninsured and are written down to subsidize any losses incurred by the NCUA. 2011 credit union closures
Oakland Municipal Credit Union California
2010 credit union closures
2009 credit union closures ► For assistance finding and claiming a lost or dormant credit union CD, IRA, safe deposit box, savings or checking account go to Credit Union Account Search ► Different rules apply to accounts at banks that have been closed by the FDIC. Go to: Bank Account Search * The Emergency Economic Stabilization Act of 2008 temporarily increased FDIC and NCUA deposit insurance to $250,000 from October 3, 2008, through December 31, 2009; but the change has now been made permanent and retroactive by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. |
| © 2008-2012 NUPA - NATIONAL UNCLAIMED PROPERTY ASSOCIATES |