Thursday, August 13, 2009

NCUA closes Nevada's Community One FCU

ALEXANDRIA, Va. (8/13/09)--The National Credit Union Administration on Tuesday announced that it has closed Las Vegas-based Community One FCU, citing the credit union's "declining financial condition" as the reason for the closure.

The $159 million assets Community One FCU is the fifth federal credit union to be liquidated this year.

The 21,000 members of Community One FCU will now be served by Utah-based America First FCU, which currently holds $4.9 billion in assets and more than 495,000 members. America First currently has 88 branch locations. It is not known if America First will assume control of any of Community One's existing branch locations.

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