Greg_Morishige at SBK.COM
05-17-2002, 04:53 PM
FYI.
Please respond directly to the NCUA.
NCUA News Release FOR IMMEDIATE RELEASE
Member Funds Insured as Credit Union Closes Unified Singers Federal Credit
Union Liquidated Alexandria, Va., May 1, 2002 - The National Credit Union
Administration (NCUA) announced that the agency placed Unified Singers
Federal Credit Union of Thomasville, Ga. into liquidation on April 30. The
714 credit union members will receive checks within two weeks. Through the
National Credit Union Share Insurance Fund, NCUA insures credit union
members' deposits up to $100,000 per account. NCUA chartered Unified Singers
Federal Credit Union in 1968. At the time of liquidation, the credit union
had assets of approximately $1,578,506. The liquidation by NCUA was in
consequence of mismanagement, severe recordkeeping problems and potential
fraud, which is currently under investigation, says NCUA Regional Director
Alonzo Swann. NCUA's Asset Management and Assistance Center (AMAC) will
issue checks to each member of the credit union and notices to creditors of
record in approximately one week. Members of the credit union with questions
or those not receiving a check within 14 days should contact AMAC at 4807
Spicewood Springs Road, Suite 5100, Austin, Texas 78759 or 512-231-7900. The
National Credit Union Administration, governed by a three-member board, is
the independent federal agency that charters and supervises federal credit
unions. NCUA, with the backing of the full faith and credit of the U.S.
government, operates the National Credit Union Share Insurance Fund,
insuring the deposits of 80 million account holders in all federal credit
unions and many state-chartered credit unions. # # #
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Please respond directly to the NCUA.
NCUA News Release FOR IMMEDIATE RELEASE
Member Funds Insured as Credit Union Closes Unified Singers Federal Credit
Union Liquidated Alexandria, Va., May 1, 2002 - The National Credit Union
Administration (NCUA) announced that the agency placed Unified Singers
Federal Credit Union of Thomasville, Ga. into liquidation on April 30. The
714 credit union members will receive checks within two weeks. Through the
National Credit Union Share Insurance Fund, NCUA insures credit union
members' deposits up to $100,000 per account. NCUA chartered Unified Singers
Federal Credit Union in 1968. At the time of liquidation, the credit union
had assets of approximately $1,578,506. The liquidation by NCUA was in
consequence of mismanagement, severe recordkeeping problems and potential
fraud, which is currently under investigation, says NCUA Regional Director
Alonzo Swann. NCUA's Asset Management and Assistance Center (AMAC) will
issue checks to each member of the credit union and notices to creditors of
record in approximately one week. Members of the credit union with questions
or those not receiving a check within 14 days should contact AMAC at 4807
Spicewood Springs Road, Suite 5100, Austin, Texas 78759 or 512-231-7900. The
National Credit Union Administration, governed by a three-member board, is
the independent federal agency that charters and supervises federal credit
unions. NCUA, with the backing of the full faith and credit of the U.S.
government, operates the National Credit Union Share Insurance Fund,
insuring the deposits of 80 million account holders in all federal credit
unions and many state-chartered credit unions. # # #
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