MIDDLETOWN, Ohio--NCUA Monday facilitated a partial purchase and assumption between $9.7-million Butler Heritage Federal Credit Union here and $173-million Cincinnati Ohio Police Federal Credit Union, the agency announced.
COPFCU, based in Cincinnati, immediately purchased some assets and assumed Butler Heritage FCU’s share accounts. Butler Heritage FCU was subsequently liquidated, NCUA said.
NCUA said it made the decision to liquidate Butler Heritage FCU and discontinue its operations after determining insolvency was imminent, and the credit union had no prospect for restoring viable operations.
At the time of liquidation, Butler Heritage FCU served 772 members. Butler Heritage Federal Credit Union serves persons who live, work, worship, or attend school in, and other legal entities located in, Butler County, Ohio.