CLARKSDALE, Miss. – NCUA said it liquidated Friendship Community FCU, a one-time $2.5 million credit union, and assigned the member accounts to Shreveport FCU, a $76 million community development credit union in nearby Shreveport, La.
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Friendship Community, which had just $860,000 in assets and negative net worth at the time of liquidation, is the third credit union failure so far this year.
Under a purchase and assumption deal with NCUA, Shreveport FCU will keep the tiny credit union’s lone Clarksdale office open as a branch to serve members.
