National Credit Union Administration liquidated Hmong American Federal Credit Union of St. Paul, Minn., on May 18. The credit union had more than $2.7 million in assets and served nearly 700 members. Member deposits are federally insured by the N.C. Credit Union Share Insurance Fund up to $250,000. The NCUA made the decision to close the credit union and discontinue its operation after determining it is insolvent and has no prospects for restoring viable operations. The closure raises the total number of failed institutions to 51 in 2011.”]
Source: https://www.cuinfosecurity.com/hmong-american-federal-credit-union-closes-a-3659