Insolvent Credit Union still operating
Ensign Federal Credit Union of Henderson reported that at the end of the 3rd quarter its net worth was a negative 1.21 percent.
"Financial industry analysts said it is unusual for the federal government to allow an insolvent institution to continue operating." However John McKechnie, director of public and congressional affairs for the National Credit Union Association, "said the administration was not planning to take any action on Friday against Ensign."
Comments (2)
J Cortez
That links reads almost like an Onion article.
Published: October 31, 2009 3:21 PM
Abhilash Nambiar
No no no no no. This is the Onion news article:
http://www.youtube.com/watch?v=TRgRz3nSG7o
Published: November 1, 2009 5:30 PM