Involuntary Liquidations: Why and How Does NCUA Do Them?

Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC

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The National Credit Union Administration (NCUA) today liquidated Unilever Federal Credit Union of Englewood Cliffs, New Jersey. The NCUA made the decision to liquidate Unilever Federal Credit Union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.

Member deposits are federally insured by the National Credit Union Share Insurance Fund to at least $250,000. NCUA’s Asset Management and Assistance Center will issue correspondence to individuals holding verified share accounts in the credit union within one week. Members may direct questions and other inquiries concerning their accounts to NCUA’s Asset Management and Assistance Center:

Unilever Federal Credit Union
c/o National Credit Union Administration
10910 Domain Dr., Suite 200
Austin, Texas 78758
1.877.715.0777 or 512.231.7940
[email protected]

Members with additional questions about their insurance coverage may contact NCUA’s Consumer Assistance Center toll free at 800.755.1030. The Center answers calls Monday–Friday between 8 a.m. and 5 p.m. Eastern. Individuals may also visit the MyCreditUnion.gov
(Opens new window) website at any time for more information about their insurance coverage.

Unilever Federal Credit Union served 1,448 members and had assets of $46,669,599, according to the credit union’s most recent Call Report. Chartered in 1948, Unilever Federal Credit Union primarily served employees of UNUS, Unilever United States, Inc, and its directly or indirectly wholly owned subsidiaries who work in or are paid from Englewood Cliffs, New Jersey.

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