Wisconsin Credit Union Closed
15th CU to Fail so Far in 2010 Regulators announced the closure of one Wisconsin credit union on Sept. 2, raising the number of failed institutions to 133 so far in 2010.First American Credit Union, Beloit, Wis.
The National Credit Union Administration was appointed liquidating agent of First American Credit Union of Beloit, Wis., by the Wisconsin Office of Credit Unions.
First Community Federal Credit Union of Parchment, Mich., has agreed to assume the assets and liabilities of First American Credit Union.
First American Credit Union's declining financial condition led to its closure. First American Credit Union had $136.9 million in assets at its closure. It is the 15th credit union to close in 2010.
