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

ALEXANDRIA, Va. (Nov. 30, 2012) – The Vermont Department of Financial Regulation today closed the Border Lodge Credit Union of Derby Line, Vt., and appointed the National Credit Union Administration (NCUA) as liquidating agent.

 

Border Lodge Credit Union member deposits are federally insured by the National Credit Union Share Insurance Fund up to $250,000. 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.

 

Originally chartered in 1963, Border Lodge Credit Union was a state-chartered, federally insured credit union serving 1,097 members and had assets of approximately $3.1 million, according to the credit union’s most recent Call Report. Border Lodge Credit Union served employees of varied and approved occupational groups who work within Orleans County, Vt., and members of the immediate families of such persons and associations composed primarily of the same people.

 

The Vermont Department of Financial Regulation made the decision to liquidate Border Lodge Credit Union to conserve the assets and protect the interests of credit union members.

 

Border Lodge Credit Union is the eleventh federally insured credit union liquidation in 2012.

IR Press

Share
Published by
IR Press

Recent Posts

OCC Increases 2025 Assessments for National Banks and Federal Savings Associations

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today announced an increase in assessment…

2 days ago

Treasury Targets Maduro-aligned Officials Leading Post-Election Crackdown in Venezuela

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

2 days ago

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…

3 days 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)…

3 days 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…

4 days ago