7th Credit Union Liquidation of 2010

The NCUA issued this press release on Saturday, May 1st:

The National Credit Union Administration (NCUA) last night liquidated St. Paul's Croatian Federal Credit Union of Eastlake, Ohio. The credit union had been placed into conservatorship by NCUA on April 23, 2010.

It's rare to see a credit union go from conservatorship to liquidation this quickly. The credit union had 5,400 members and $238.8 million in assets.