The Ochsner Clinic Federal Credit Union has been liquidated by regulators and its members’ accounts, deposits and loans were taken over by ASI Federal Credit Union of Harahan.
The National Credit Union Administration announced Friday it decided to shut down operations at Ochsner Clinic FCU after determining it was insolvent and had no prospect for restoring viable operations. The credit union, 1514 Jefferson Highway, in New Orleans had just fewer than 3,100 members and assets of about $9.25 million, according to its most recent report.
Ochsner FCU customers will become ASI FCU members with no interruption in services, the NCUA said. Accounts remain federally insured up to $250,000.
The Ochsner FCU is independent of the Ochsner Health Systems and Ochsner Clinic Foundation. The health care groups have no ownership, management or oversight of the credit union.
The Ochsner FCU was chartered in 1973 to serve people primarily working in the medical field in New Orleans. It is the 10th federal credit union to be liquidated in 2013.
ASI was chartered in 1961 on the grounds of Avondale Shipyards. The credit union has 15 branches in metro New Orleans, including locations in the CBD, north shore and New Orleans East.