WAUSAU, Wis. — NCUA this evening liquidated Wausau Postal Employees CU and assigned the remnants of the one-time $10 million credit union to nearby giant CoVantage CU.
Wausau Postal is the fifth credit union failure so far in 2012.
Wausau Postal Employees was charted in 1932 and served all postal and federal employees and their families in the 544 and 545 zip codes.
The credit union lost $420,000 in 2011 and $190,000 in 2010.
CoVantage is a $1 billion credit union based in Antigo, Wis., that serves Wisconsin's Brown, Clark, Florence, Forest, Langlade, Lincoln, Marathon, Menominee, Oconto, Oneida, Outagamie, Portage, Shawano, Taylor, Waupaca, and Wood counties or in Michigan's Dickinson and Iron counties.