The National Credit Union Administration (NCUA) has liquidated Copper & Glass Federal Credit Union in Glassport, Pennsylvania, with OMEGA Federal Credit Union of Wexford, Pennsylvania assuming the failed credit union’s assets, member shares, and loans. NCUA stated that members should see no interruption in services and that deposits remain insured by the National Credit Union Share Insurance Fund. NCUA liquidated Copper & Glass after determining it was insolvent with no prospect of restoring viable operations. At the time of liquidation, Copper & Glass had 1,225 members and approximately USD 5.3 million in assets, while OMEGA reported 15,290 members and USD 176.8 million in assets in its most recent Call Report. NCUA reiterated that the Share Insurance Fund insures individual accounts up to USD 250,000, joint accounts up to USD 250,000 in total, and separately insures IRA and KEOGH retirement accounts up to USD 250,000, with the fund backed by the full faith and credit of the United States.
National Credit Union Administration 2026-04-01
National Credit Union Administration liquidates Copper & Glass Federal Credit Union and transfers accounts to OMEGA Federal Credit Union
The National Credit Union Administration has liquidated Copper & Glass Federal Credit Union in Pennsylvania after determining it was insolvent, with OMEGA Federal Credit Union assuming its assets, member shares, and loans. NCUA stated that members should experience no service disruption and reiterated that deposits remain insured by the National Credit Union Share Insurance Fund up to USD 250,000 per individual, joint, and qualifying retirement account category.