BALTIMORE– NCUA Friday liquidated the $21.9-million Members First of Maryland Federal Credit Union here.
The $2.5-billion Aberdeen Proving Ground FCU of Edgewood, Md., immediately purchased some assets and assumed Members First of Maryland’s share accounts, NCUA said.
NCUA said it made the decision to liquidate Members First of Maryland FCU and discontinue its operations after determining insolvency was imminent, and the credit union had no prospect for restoring viable operations.
The credit union lost $72,130 through June of 2025, and net worth stood at 3.35%, according to Call Report data.
At the time of liquidation, Members First of Maryland Federal Credit Union served 3,638 members. The CU served members of local unions (United Steelworkers, AFL-CIO, ILA, and IBEW) as well as the communities of Perry Hall and White Marsh, Md.