I lost my credit union

**pinetree** · 08-04-2010, 03:29 PM

I can't beleive after 31 years, I got a letter saying that they are in liquidation. We will be notified when they decide whats going to happen, and of course that all your money is safe and secure.

Now I'm afraid we will have to find new checking etc. I am in total shock! We have had banks shut down, but I have never heard of a credit union, looks like its alot worse here ( the economy) than what we thought.

Its not enough Murphy keeps hitting us, now this.

**Saule** · 08-04-2010, 04:47 PM

I had a mortgage through a credit union that ended up liquidated - but shenanigans were involved there.

I can recommend the credit union I have used now for over 20 years - Meadows Credit Union in Illinois. I have a couple of accounts with them, and when they see that I've somehow managed to overdraw my checking (very bad at recording checks, yes yes, I know, I should keep better track), but that I have enough money in the other account to cover, they always call me to authorize a transfer to avoid an overdraft. You don't see that kind of service these days.

I am very happy with them.

https://www.mcuonline.com/index.shtml

**frugalwarrior2** · 08-04-2010, 11:05 PM

wow. never heard of that. i checked our awhile back and they have good assets. Wish i could remember the website. Maybe just go under c.u. assets. Hope there's another in your area.

**frugalfranny** · 08-05-2010, 12:51 AM

YEOW!

I don't recall hearing about any credit unions closing either.

We had another bank shut down in our state a couple weeks ago.

It is the pits to start at another bank too........all the stuff to set up once again. Good luck pinetree!

**Greebo** · 08-05-2010, 05:10 AM

Credit union closures do happen - but most Credit Unions are insured by ... what is it NCUA (like FDIC but for CU's), so your deposits *should* be safe.

Good luck! Let us know how it turns out!