ALEXANDRIA, Va. — Alliant Credit Union of Chicago, has purchasedthe assets and assumed all member shares of the recently liquidatedKaiperm FCU of Oakland, CA, the NCUA announced today.
|Kaiperm's former members will receive uninterrupted service fromAlliant, which has $5.7 billion in assets.
|Its latest financial report, filed June 30 with NCUA, indicatedKaiperm had $95 million in assets and had lost $3.9 million in thesecond quarter. Its loan income had increased 2.5% and itsinvestment income was down 28.5%. Kaiperm had approximately 18,000members.
|Alliant is a state-chartered, federally insured institutionheadquartered. It was chartered in 1935 to serve employees ofUnited Airlines and has more than 216,000 members.
|All accounts at federally-insured credit unions are insured upto at least $100,000 by the National Credit Union Share InsuranceFund, an entity of the federal government operated by NCUA. Certainretirement accounts, such as IRA and KEOGH accounts, are insured upto $250,000.
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