FOR IMMEDIATE RELEASE 
November 19, 2007 
Contact: OFIS (toll-free) 1-877-999-6442 
Media/Press calls:  Kathy Fagan - 517-335-1700

Lansing, Michigan – The National Credit Union Administration (NCUA) today liquidated Huron River Area Credit Union (Huron River) of Ann Arbor, Michigan. Its members’ accounts were purchased and assumed by Detroit Edison Credit Union (DECU) of Detroit, Michigan, providing Huron River members with uninterrupted credit union service.

The NCUA has been overseeing the operations of Huron River since February of 2007 when the Michigan Commissioner of the Office of Financial and Insurance Services (OFIS) placed Huron River into conservatorship. Action was taken to protect member assets while addressing operational issues within Huron River.

The financial condition of Huron River necessitated its conservatorship and liquidation. With assets purchased and assumed by DECU, Huron River members are guaranteed full member-owner rights.

DECU is a state-chartered, federally insured institution. Member accounts are insured to at least $100,000 while IRA and KEOGH retirement accounts are insured up to $250,000 under coverage provided by the National Credit Union Share Insurance Fund, a federal fund backed by the full faith and credit of the U.S. Government.

DECU was chartered in 1944. It is a full service, $485 million credit union with more than 27,000 members primarily located in southeastern Michigan. DECU members have access to 77 service center branches in Michigan, with thousands of additional locations across the U.S, and it offers free ATM service at over 25,000 locations.

Chartered in 1937, liquidated Huron River had assets of more than $250 million, and served over 39,000 members from over 1,000 select employee groups in the Michigan counties of Washtenaw, Livingston, Wayne, Oakland, and Macomb.

The Office of Financial and Insurance Services is responsible for the regulation of Blue Cross Blue Shield, 30 HMOs, 141 banks, 169 domestic insurance companies, 239 credit unions, 1,303 foreign insurance companies, 1,484 investment advisors, 2,178 securities broker-dealers, 7,521 consumer finance lenders, 123,486 insurance agents, and 107,991 securities agents.

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