Shiloh of Alexandria Federal Credit Union Closes

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

ALEXANDRIA, Va. (April 12, 2013) – The National Credit Union Administration (NCUA) today liquidated Shiloh of Alexandria Federal Credit Union of Alexandria, Va.

NCUA made the decision to liquidate Shiloh of Alexandria Federal Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations. 

Member 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 correspondence to individuals holding verified share accounts in the credit union within one week.

Members with additional 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.

Shiloh of Alexandria Federal Credit Union served 624 members and had assets of approximately $2.4 million, according to the credit union’s most recent Call Report. Chartered in 1993, Shiloh of Alexandria Federal Credit Union served the members and employees of Shiloh Baptist Church, their immediate family members, and an underserved area within the City of Alexandria, Va.

Shiloh of Alexandria Federal Credit Union is the fifth federally insured credit union liquidation in 2013.

IR Press

Share
Published by
IR Press

Recent Posts

OCC Announces Enforcement Actions for November 2024

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

2 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…

2 days ago

Treasury Sanctions Gazprombank and Takes Additional Steps to Curtail Russia’s Use of the International Financial System

Treasury imposes sanctions on dozens of Russian banks, securities registrars, and finance officials; OFAC issues…

2 days ago

Acting Comptroller Testifies on State of the Federal Banking System

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the state of the federal banking system…

3 days ago

Remarks by Assistant Secretary for International Finance Brent Neiman on the U.S. Cross-Border Payments Agenda

As Prepared for Delivery Thank you very much for the opportunity to be here today, and…

4 days ago