Tiny Wisconsin CU Is Fourth Failure Of The Year

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OGEMA, Wis. – NCUA and state regulators took over and liquidated tiny Wisconsin Heights CU this afternoon and assigned the member accounts of the fourth credit union failure of 2011 to CoVantage CU, the $860 million credit union based in nearby Antigo.

Wisconsin Heights has just 501 members and $713,000 in assets at liquidation and never reached $1 million in assets since its 1963 chartering. It had no full-time employees.OGEMA, Wis. – NCUA and state regulators took over and liquidated tiny Wisconsin Heights CU this afternoon and assigned the member accounts of the fourth credit union failure of 2011 to CoVantage CU, the $860 million credit union based in nearby Antigo.

Wisconsin Heights has just 501 members and $713,000 in assets at liquidation and never reached $1 million in assets since its 1963 chartering. It had no full-time employees.

 

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