NEW YORK– NCUA Friday liquidated Empire Financial Federal Credit Union here.
Jovia Federal Credit Union of Westbury, N.Y., immediately assumed Empire Financial Federal Credit Union’s assets, member shares, and loans, NCUA said. Jovia FCU is a federally insured credit union with 206,572 members and assets of $3.96 billion, according to the credit union’s most recent Call Report.At the time of liquidation and subsequent purchase by Jovia FCU, Empire Financial served 270 members and had assets of approximately $5.12 million, according to the credit union’s most recent Call Report. Chartered in 1976, Empire Financial Federal Credit Union served multiple employer, associational, and faith groups in New York and New Jersey.
Empire Financial Federal Credit Union is the first federally insured credit union liquidation in 2022.