LENEXA, Kan. – NCUA has reached agreement to sell the offices of U.S. Central FCU, just as it was scheduled to shut down the operations of the one-time $52 billion central bank for credit unions last week.
The agency confirmed a sales agreement Friday but would not disclose a buyer, a sales price or date of closing.
U.S. Central moved into the newly constructed headquarters in 2002 and occupied about 90,000 square feet in the 128,000-square-foot building with 250 employees.
Faced with billions of dollars of losses on its mortgage-backed securities investments, NCUA took over U.S. Central, along with WesCorp FCU, in March 2009, then liquidated the two corporate credit union giants at a projected loss of $12 billion to the credit union system for the two entities.
