State Regulators Shut Down Spokane Credit Union - Spokane, North Idaho News & Weather KHQ.com

State Regulators Shut Down Spokane Credit Union

SPOKANE, Wash. - State regulators closed Spokane's The Union Credit Union on Friday because of loan losses. It's the first time a credit union in Washington has been closed in 15 years.
The Spokesman-Review reports regulators have turned The Unions deposits and memberships over to Numerica Credit Union of Spokane.

Loans and other assets have been turned over to Alaska USA Federal Credit Union of Anchorage, Alaska. The state Department of Financial Institutions said in a news release that The Unions 3,115 members should not experience any interruption of credit union services. Individual accounts are insured for up to $250,000, under the National Credit Union Share Insurance Fund.
 
     

(Copyright 2010 by The Associated Press.  All Rights Reserved.)

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