The Second Baptist Church Credit Union of Los Angeles, CA became the 12th credit union to be liquidated in 2009. Prosperity Federal Credit Union, Rancho Domingue, CA to assume the failed credit union’s loans and shares. The NCUA says the credit union was closed because it was insolvent. Overall, this is the 125th failed banking institution overall this year, 19 of which are liquidated or placed into conservatorship in 2009, according to the National Credit Union Administration.”]
Source: https://www.cuinfosecurity.com/ca-credit-union-liquidated-a-1891