NCUA, May 19, 2008
St. Luke Baptist Federal Credit Union Closes - Liquidation
Alexandria, Va. - The National Credit Union Administration (NCUA) placed St. Luke Baptist Federal Credit Union of Laurelton, New York, into liquidation.NCUA’s Asset Management and Assistance Center will issue checks to members holding verified share accounts in the St. Luke Baptist Federal Credit Union within one week. Through NCUA’s National Credit Union Share Insurance Fund, credit union member deposits are insured up to at least $100,000 per account.NCUA made the decision to liquidate St. Luke Baptist Federal Credit Union and discontinue its operations after determining the credit union is insolvent. It has no prospects for restoring viable operations. At the time of liquidation, the credit union served 162 members and had assets of approximately $49,734.Chartered in 1976, St. Luke Baptist Federal Credit Union served members of the St. Luke Baptist Church located in Laurelton, New York.
