NCUA Shuts Down Tiny West Virginia Credit Union

ALEXANDRIA, Va. — The National Credit Union Administration said Wednesday that it liquidated the Mildred Mitchell-Bateman Hospital Federal Credit Union in Huntington, W. Va.

It is the second credit union to be liquidated this year, following the closing of CTK Credit Union of Milwaukee earlier this month.

The decision to liquidate and discontinue operations of the tiny, $27,000-asset CU came after NCUA determined the institution was "insolvent and had no prospect for restoring viable operations."

Chartered in 1980, Mildred Mitchell-Bateman Hospital served 57 members, according to its most recent Call Report, primarily employees, doctors, medical staff and technicians of the Mildred Mitchell-Bateman Hospital in Huntington.

The hospital, a state-supported psychiatric institution, has a checkered history and is alleged to be haunted by some ghost-watcher groups.

NCUA assured that member deposits are federally insured by the National Credit Union Share Insurance Fund, which is administered by NCUA, and insures individual accounts up to $250,000, and a member's interest in all joint accounts combined is insured up to $250,000.