Internet Archive FCU Pays Out Insured Shares
As part of its voluntary liquidation process, Internet Archive FCU has paid out to its members of record all shares insured by the NCUSIF. NCUA had issued a cease and desist order to the credit union in November, 2015 citing the credit union’s unwillingness to open accounts and extend loans to potential members in its low-income community, violations of the Bank Secrecy Act and USA Patriot Act and a declining financial condition with increasing losses. [1/21/16]
