A small Pennsylvania credit union was liquidated after the federal regulator found it “was insolvent and had no prospect for restoring viable operations,” the agency said late Wednesday.
Copper & Glass Federal Credit Union (FCU) in Glassport, Penn., was closed and its assets, member shares and loans were assumed by OMEGA FCU of Wexford, Penn., the National Credit Union Administration (NCUA) said.
The agency said Copper & Glass was chartered in 1938. When liquidated, the credit union counted 1,225 members and held assets of approximately $5.3 million. It served members of multiple occupational and associational groups and people who live, work, worship, or attend school in Allegheny County, Penn., NCUA said.
Copper & Glass Closes; OMEGA Federal Credit Union Assumes Loans, Assets, Shares
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