ALEXANDRIA, Va.—NCUA Wednesday liquidated the tiny Mildred Mitchell-Bateman Hospital FCU of Huntington, W.Va.
NCUA made the decision to liquidate the $27,039 credit union and discontinue operations after determining the credit union was insolvent and had no prospect for restoring viable operations.
Chartered in 1980, Mildred Mitchell-Bateman Hospital FCU served 57 members. The CU made small amounts of money each of the last three years, topping out at $615 in 2015, according to its latest Call Report. The credit union’s net worth was 70.83%.
Mildred Mitchell-Bateman primarily served employees, doctors, medical staff and technicians of the Mildred Mitchell-Bateman Hospital who work in Huntington.
MMBHFCU is the second federally insured credit union liquidation in 2016.