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

ALEXANDRIA, Va. (Feb. 19, 2013)

– The Michigan Office of Financial and Insurance Regulation (OFIR) today liquidated Amez United Credit Union of Detroit, Mich., and appointed the National Credit Union Administration (NCUA) as liquidating agent.

Amez United Credit Union members’ deposits are federally insured by the National Credit Union Share Insurance Fund up to $250,000. NCUA’s Asset Management and Assistance Center will issue checks to individuals holding verified share accounts in the credit union within one week.

Members with questions about their insurance coverage may contact NCUA’s Consumer Assistance Center toll free at (800) 755-1030. The Center answers calls Monday through Friday between 8 a.m. and 5 p.m. Eastern. Individuals may also visit the MyCreditUnion.gov website at any time for more information about their insurance coverage.

OFIR made the decision to liquidate Amez United Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.

Originally chartered in 1961, Amez United Credit Union served registered members of the churches in the Detroit district of the Michigan Conference of the African Methodist Episcopal Zion Church. Amez United Credit Union had 158 members and assets of approximately $168,865, according to its most recent Call Report.

Amez United Credit Union is the second federally insured credit union liquidation in 2013.

IR Press

Share
Published by
IR Press

Recent Posts

OCC Issues First and Second Quarter 2025 CRA Evaluation Schedule

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released its schedule of Community…

5 hours ago

Treasury Targets Cartel-Enabled Illegal, Unreported, and Unregulated Fishing Operations

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC)…

20 hours ago

READOUT: Treasury Hosts Third Annual Conference on the Work of the Committee on Foreign Investment in the United States

WASHINGTON – On November 19, 2024, the Treasury Department hosted the third annual conference on…

2 days ago

OCC Announces Enforcement Actions for November 2024

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against…

5 days ago

Remarks by Secretary of the Treasury Janet L. Yellen on the 30th Anniversary of the Community Development Financial Institution Fund

As Prepared for Delivery Good afternoon. It’s an honor to welcome President Clinton to Treasury today…

6 days ago