All American Bank, Des Plaines, Ill., was closed by the Illinois Department of Financial and Professional Regulation – Division of Banking. The FDIC estimates that the cost to the Deposit Insurance Fund will be $6.5 million. The National Credit Union Administration assumed control of service and operations at Birmingham Financial Federal Credit Union of Birmingham, Ala. The credit union reported assets at $1.3 million as of June 30. The deposit insurance fund continues to insure individual accounts at the institution up to $250,000.”]
Source: https://www.cuinfosecurity.com/1-bank-closed-1-cu-conserved-a-4202