ENGLEWOOD CLIFFS, N.J.--NCUA Wednesday liquidated $47-million Unilever Federal Credit Union here.
The agency said it made the decision to liquidate UFCU and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.
Unilever Federal Credit Union served 1,448 members. Chartered in 1948, the CU primarily served employees of UNUS, Unilever United States, Inc., and its directly or indirectly wholly owned subsidiaries who work in or are paid from Englewood Cliffs.