NCUA liquidates two West Virginia credit unions

The NCUA on Tuesday liquidated two West Virginia credit unions that had been placed into conservatorship last month.

Agency officials said that they liquidated the O.F. Toalston Federal Credit Union of Logan, West Virginia, and the Mingo County Education Federal Credit Union of Williamson, West Virginia.

They explained the agency decided to discontinue operations after determining that the credit unions were insolvent and had no prospect for restoring viable operations.

The financial institutions were the fifth and sixth credit unions to have failed this year.

 

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