Additionally on the bank failure front, $1.6 billion Eastern Financial Florida Credit Union was placed in NCUA conservatorship.
April 24, 2009, Alexandria, Va. -- The National Credit Union Administration (NCUA) today assumed control of the operations of Eastern Financial Florida Credit Union, a state-chartered, federally insured credit union headquartered in Miramar, Florida.Hopefully any investors who were stupid enough to have deposits for more than $250,000 in either of the institutions managed to play the short squeeze and make up for the losses. Also, they are all likely very convinced that the economy is abound to rebound. Sphere: Related Content Print this post
Eastern Financial Florida Credit Union was originally chartered in 1937 and today serves Broward, Miami-Dade, Palm Beach, Hillsborough, Pinellas counties and the Jacksonville area. The credit union has approximately $1.6 billion in assets and just over 200,000 members.