ALEXANDRIA, Va. (7/1/13)--The National Credit Union Administration has liquidated New Orleans, La.-based Ochsner Clinic FCU, the agency announced Friday. ASI FCU of Harahan, La., has assumed Ochsner Clinic FCU's members, deposits and loans.
It is the 10th federally insured credit union liquidation in 2013, NCUA said.
NCUA said it decided to liquidate the $9.25 million asset credit union and discontinue operations after determining the credit union was insolvent, with no prospect of restoring viable operations.
The new ASI FCU members will experience no interruption in services, NCUA said. Their accounts remain insured up to $250,000 by the National Credit Union Share Insurance Fund.
Ochsner Clinic FCU, which was chartered in 1973, served a number of select group centered primarily in the medical profession in the New Orleans area. It served 3,099 members.
Neither Ochsner Clinic Foundation nor Ochsner Health System owns, manages or oversees the credit union, which is an independent entity, said NCUA.