ALEXANDRIA, Va. (11/23/15)--The National Credit Union Administration liquidated Helping Other People Excel FCU of Jackson, N.J., it announced Friday.
The credit unions was placed into conservatorship in October, and the agency subsequently made the decision to liquidate after determining it was insolvent and had no prospect for restoring viable operations.
Helping Other People Excel FCU served 110 members and had assets of $626,529, according to the credit union’s most recent call report. Chartered in 1978, it served a community field of membership comprised of persons who live, work, worship, or attend school in, and businesses and other legal entities in Lakewood, N.J.
The NCUA’s Asset Management and Assistance Center will issue correspondence in the near future to individuals holding verified share accounts in the credit union.
Members with additional questions about their insurance coverage may contact the center toll-free at 877-715-0777 Monday through Friday between 9 a.m. and 6 p.m. (ET).
Helping Other People Excel FCU is the seventh federally insured credit union liquidation in 2015.