1. I’ve never heard of it either.
2. Still don’t care but here it is from the NCUA:
African Diaspora Federal Credit Union Closes
Accounts Remain Protected by Share Insurance Fund
Alexandria, VA (August 6, 2026) ― The National Credit Union Administration (NCUA) today liquidated African Diaspora Federal Credit Union in Saint Ann, Missouri.
NCUA made the decision to liquidate African Diaspora Federal Credit Union after determining the credit union was insolvent and in violation of numerous provisions of the Federal Credit Union Act and NCUA Regulations, including operating in an unsafe and unsound manner.
Member deposits are federally insured by the National Credit Union Share Insurance Fund to at least $250,000. NCUA’s Asset Management and Assistance Center will issue correspondence to individuals holding verified credit union share accounts within one week. Members may direct questions and other inquiries concerning their accounts to NCUA’s Asset Management and Assistance Center:
African Diaspora Federal Credit Union was a federally insured, federally chartered credit union with 183 members and assets of $547,479, according to the credit union’s most recent Call Report. African Diaspora Federal Credit Union served members of the African Diaspora Council, Inc.
So a credit union founded by an immigrant from Togo fifteen months ago failed. Nothing suspicious to see here.
Let’s review the information from the story by the Credit Union Times about them:
According to a CU Times analysis of the credit union’s financial reports, the credit union started out with $100,000 in assets in June 2025, and had reported $547,479 in assets as of June 2026. Its membership peaked at 522 in March, but fell to 183 by June 30.
It lost $48,359 (ROA -44.31%) in the second quarter after no earnings a year earlier and after losing $333 (ROA -0.6%) in the previous quarter.
As a result, African Diaspora’s net worth fell from $12,968 in December to -$12,458 in June.
Its net worth ratio fell from a “well capitalized” 11.06% in December, to a “significantly undercapitalized” 3.86% in March and a “critically undercapitalized” -2.28% in June.
Now I’m not an expert but I am a thinking man.
How does any financial institution lose money with even the 1 year US Treasury yielding 4.06% as of today? Oh wait, that’s right this is the era of no regulatory oversight until it’s too late.
Carry on Citi, carry on Wells.