NEW LONDON, Conn. — Edwin F. Rachleff, an A.G. Edwards broker who handled investments for New London Security Federal Credit Union, committed suicide by jumping from an apartment building on Monday, theday.com reported. His death came on the same day NCUA liquidated the $12 million credit union.
According to theday.com, Rachleff, 82, faced losing his broker's license due to his failing eyesight, which lead to him having trouble reading. There is no apparent indication that Rachleff's suicide is linked to New London's closing.
NCUA made the decision to liquidate New London and discontinue its independent operations after determining that the credit union was insolvent, the regulator reported on July 28. Chartered in 1936, New London had 365 members and reported assets of $12.7 million.
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