The National Credit Union Administration has liquidated Women's Southwest Federal Credit Union in Dallas.
The NCUA said in a press release late Wednesday that it made the decision "after determining the credit union was insolvent and had no prospect for restoring viable operations." Certain share accounts were transferred to City Credit Union in Dallas.
Women's Southwest served 743 members and had about $2 million in deposits. Originally chartered as Feminist Southwest Federal Credit Union in 1974, the institution had evolved to serve numerous groups with a focus on women's advocacy, interest and affiliation, along with other underserved groups.
The credit union is the year's 18th failure, including 10 involuntary liquidations and eight assisted mergers.
