The National Credit Union Administration has shuttered two credit unions in West Virginia just one month after
The NCUA announced Tuesday that it had closed O.F. Toalston Federal Credit Union in Logan after finding that the credit union was insolvent and would not be able to restore viable operations. At the time of its closure, O.F. Toalston FCU had $477,610 of assets and 175 members. It served people employed by the Appalachian Power Company at the Logan Plant and in the Logan District, which includes Logan, Boone, Mingo, Lincoln and Wyoming counties.
Additionally, the agency announced the liquidation of Mingo County Education Federal Credit Union, a $2.7 million-asset institution in Williamson, after concluding that the credit union would also never regain sustainable operations. Mingo County Education FCU reported having 457 members who were employees of primary and secondary public, private and parochial schools and colleges and universities in Mingo County.
The credit unions are the most recent ones closed by the NCUA this year, following
