EUGENE, Ore. – NCUA Friday night liquidated O.U.R FCU, a one-time $5-million credit union it has been running under conservatorship since October, and assigned the remnants to Northwest Community CU, a $675-million credit union in nearby Springfield, Ore.
Processing Content
O.U.R., which served the residents of Lane County, Ore., participating within the past 12 months in programs of the Lane County Department of Community Health and Social Services, lost $2.3 million for the first nine months of 2011and had negative net worth of $2.1 million.
It is the 14th credit union failure of the year and second last week, following New York’s BCT FCU, which was acquired in a purchase and assumption deal by Visions FCU.
