STATEN ISLAND, N.Y.–NCUA has liquidated Radio, Television and Communication FCU here. The assets of the $3.1-million RTCFCU have been assumed by the $192-million Palisades FCU in Pearl River, N.Y.
NCUA said it liquidated Radio, Television and Communication FCU and discontinued its operations after determining the credit union was insolvent with no prospect for restoring viable operations on its own.
At the time of closure, the credit union had 416 members. Chartered in 1964, Radio, Television and Communication Federal Credit Union served various groups in New York.
Palisades FCU has 14,351 members.
Radio, Television and Communication Federal Credit Union is the seventh federally insured credit union liquidation in 2018.