Member Deposits Remain Protected to at Least $250,000 by the Share Insurance Fund
The National Credit Union Administration (NCUA) today liquidated Soul Community Federal Credit Union in Austell, Georgia. The NCUA made the decision to liquidate Soul Community Federal Credit Union and discontinue its operations after determining the credit union was insolvent and in violation of numerous provisions of the Federal Credit Union Act and NCUA Rules and Regulations, including operating in an unsafe and unsound manner.
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 credit union share accounts within one week.
Soul Community Federal Credit Union, chartered in 2024, primarily served persons who live, work, worship, study, and participate in programs, associations and businesses in Austell, Georgia.
1 thought on “Soul Community Federal Credit Union Closes”
This is one of hundreds of banks and credit unions you will see go under starting now. Cmbs. Retail. Restaurants all failing. Housing collapse