WHEELING, W.V. – NCUA on Friday liquidated $8 million Center Valley FCU, the second credit union failure of the year.
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The same day banking regulators closed four more banks: Sherman County Bank in Nebraska, Riverside Bank of the Gulf Coast in Florida, Corn Belt Bank and Trust Co. in Illinois, and Pinnacle Bank in Beaverton, Ore., making 13 bank failures so this year.
NCUA made the decision to shutter Center Valley after determining that the credit union is insolvent and has no prospects for restoring viable operations.
Center Valley was chartered in 1975 to serve employees of the Ohio Valley Medical Center in Wheeling, West Virginia, and the underserved area known as South Wheeling.
