5 Bucks County Credit Unions Shut Down By Regulators

Six area federal credit unions, including five in Bucks County, have been closed and liquidated by federal regulars.

The credit unions include:

• Cardozo Lodge Federal Credit Union of Bensalem
• Chester Upland School Employees Federal Credit Union of Chester
• Electrical Inspectors Federal Credit Union of Bensalem
• O P S EMP Federal Credit Union of Bensalem
• Servco Federal Credit Union of Bensalem
• Triangle Interests % Service Center Federal Credit Union of Bensalem

All six credit unions received management and record keeping services from Service Center for Credit Unions Inc., located in Bensalem.

The National Credit Union Administration announced the closure this week, saying member deposits up to $250,000 are federally insured by the National Credit Union Share Insurance Fund.

The NCUA made the decision to liquidate the six federal credit unions "after determining the credit unions were insolvent and had no prospect for restoring viable operations."

Here are the details on the liquidated credit unions:

• Cardozo Lodge Federal Credit Union served 83 members and had assets of $226,485, according to the credit union’s most recent Call Report. Chartered in 1960, Cardozo Lodge Federal Credit Union primarily served regular members of the Cardozo Lodge No. 400, Independent Order Brith Sholom, in Philadelphia and employees of Rovner, Allen, Rovner, Zimmerman and Nash who work in Feasterville, Pennsylvania.
• Chester Upland School Employees Federal Credit Union served 593 members and had assets of $827,269, according to the credit union’s most recent Call Report. Chartered in 1939, Chester Upland School Employees Federal Credit Union primarily served employees of the Chester Upland School District in Chester City, Chester Township and Upland Borough in Delaware County, Pennsylvania.
• Electrical Inspectors Federal Credit Union served 44 members and had assets of $65,894, according to the credit union’s most recent Call Report. Chartered in 1976, Electrical Inspectors Federal Credit Union primarily served active and associate members of the Eastern Pennsylvania Chapter, Eastern Section, International Association of Electrical Inspectors in Philadelphia and employees of Municipal Inspection Corporation who work in Philadelphia.
• O P S EMP Federal Credit Union served 85 members and had assets of $1,182,927, according to the credit union’s most recent Call Report. Chartered in 1968, O P S EMP Federal Credit Union primarily served employees of O.P. Schuman & Sons, Inc. who work in Warrington, Pennsylvania.
• Servco Federal Credit Union served 795 members and had assets of $2,193,229, according to the credit union’s most recent Call Report. Chartered in 1950, Servco Federal Credit Union served various groups in Delaware, New Jersey, New York and Pennsylvania.
• Triangle Interests % Service Center Federal Credit Union served 99 members and had assets of $290,098, according to the credit union’s most recent Call Report. Chartered in 1995, Triangle Interests % Service Center Federal Credit Union primarily served natural person members of Triangle Interests headquartered in Philadelphia.

Members with questions should call 877-715-0777 Monday through Friday between 9 a.m. and 6 p.m.

Members can also visit the Share Insurance section of NCUA’s MyCreditUnion.gov website for more information about their insurance coverage.