St. Paul Croatian Federal Credit Union is closed by federal government

EASTLAKE, Ohio - The troubled St. Paul's Croatian Federal Credit Union is no longer conducting business.

Seven days after the Eastlake-based credit union was placed into conservatorship by the National Credit Union Administration, which oversees credit unions throughout the United States, it was closed for good.

The national organization decided to shutdown St. Paul's Croatian Federal Credit Union after determining the business was insolvent and had no means of restoring its operations.

The credit union had 5,400 members and assets of approximately $238.8 million at the time of its closing.

Member accounts are insured to at least $250,000. Checks will be issued for members with share accounts at the credit union at the time of its closing.

For more information, contact the National Credit Union Administration at 1-800-755-1030.