Washington State Department of Financial Institutions

The Union Credit Union Closure
Information for Members

DFI has compiled the following information about The Union Credit Union closure.

Q&A Guide Regarding the Closure:


About the Closure

The Washington Department of Financial Institutions (DFI) closed The Union Credit Union of Spokane, Washington on Friday, October 29, 2010, citing loan losses that resulted in negative equity. No advance notice is given to the public when a financial institution is closed.

Immediately following the closure, DFI named the National Credit Union Administration (NCUA) as the liquidating agent of The Union Credit Union.

The NCUA immediately signed an agreement with Alaska USA Federal Credit Union to assume loans (except share secured loans) and assets.

The NCUA also signed an agreement with Numerica Credit Union to assume all deposits and membership.

Numerica Credit Union and Alaska USA Federal Credit Union will be sending letters to all members of The Union Credit Union describing the new relationship.

Any member who has not received a letter from Numerica and Alaska USA concerning their share and loan accounts by November 5, 2010, should contact:

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About the Acquiring Credit Unions

Numerica Credit Union and Alaska USA Federal Credit Union will be sending letters to all members of The Union Credit Union describing the new relationship.

Any member who has not received a letter from Numerica and Alaska USA concerning their share and loan accounts by November 5, 2010, should contact:

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Your Deposits Are Insured Up To $250,000

Each member account is insured to at least $250,000 by the National Credit Union Share Insurance Fund.

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Credit Union Services

The Union members should not experience any interruption of credit union service.

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About Your Loans

Loan customers should continue to make their payments as usual. You will be contacted by Alaska USA Federal Credit Union via mail about the transition.

If you have questions, contact: Credit Union Service Center: 866-242-0715.

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About Your Membership and Deposits

Depositors will automatically become members of Numerica Credit Union. Your deposits will be transferred.

Numerica Credit Union will contact you via mail with more information about the transition. If you have questions, contact: Credit Union Service Center: 866-242-0715.

You will no longer be able to use services at The Union Credit Union headquarters. The Union customers can access their funds by writing checks or using ATM or debit cards at Numerica branches or with any credit union that participates in the CU Service Center® Shared Branching Network. The nearest Numerica Credit Union branch is at 301 North Havana, Spokane, Wash. To locate a Shared Branch in your area, visit www.cuswirl.com or call 1.888.287.947

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Who to Contact with Questions

Please direct other inquiries to:

Liquidating Agent National Credit Union Administration
4807 Spicewood Springs Road, Suite 5100
Austin, Texas  78759

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Cautions about Phishing Scams

Please be advised you will not receive any email notification to claim/unlock/unsuspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you. Here is how it works:

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Information for the Media

Media Contacts

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