NCUA Liquidates Tracy Federal Credit Union in California

Unlike the FDIC, the NCUA doesn't usually wait for Fridays when it closes an institution. The NCUA just issued this press release (pdf) about the liquidation of Tracy FCU, a small California credit union that had $25.4 million in assets and 5,973 members. According to the press release "Valley First Credit Union purchased and assumed Tracy FCU’s assets, loans and shares, enabling Tracy FCU’s members to receive uninterrupted credit union service." Tracy FCU had been put into conservatorship on March 19th.