ALEXANDRIA, Va. (7/17/15)--Lakeside FCU of Hammond, Ind., has been liquidated by the National Credit Union Administration, the agency announced Thursday.
The NCUA made the decision to liquidate Lakeside FCU and discontinue its operations after determining the credit union was insolvent and had no prospect for restoring viable operations.
Lakeside FCU served 2,280 members and had assets of roughly $8.9 million, according to the credit union’s most recent call report.
Chartered in 1950, Lakeside served members, employees and their families of the Trans Union Corp. in Lincolnshire, Ill., and Chicago, as well as members, employees and their families of Union Tank Car Co., Trans Union Systems Corp. and several smaller employers in northwest Indiana.
Lakeside is the fifth federally insured credit union liquidation in 2015.