Ok, so it was actually announced late last night but this author has been busy.
From the National Credit Union Administration website:
Member Deposits Remain Protected Up to $250,000; Member Services Uninterrupted
ALEXANDRIA, VA (Oct. 2, 2025) – The National Credit Union Administration (NCUA) today announced that 1st Choice Credit Union of Atlanta, Georgia, has merged into Hope Federal Credit Union of Jackson, Mississippi, effective immediately.
The new Hope Federal Credit Union members should experience no interruption in services, and member deposits remain protected by the National Credit Union Share Insurance Fund. Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States. Members may visit the Share Insurance section of NCUA’s MyCreditUnion.gov (Opens new window) website at any time for more information about their insurance coverage.
Members new to Hope Federal Credit Union with questions about their accounts may call the credit union at 601.944.1100 or visit This is an external link to a website belonging to another federal agency, private organization, or commercial entity. Hope Federal Credit Union’s website (Opens new window) for more information about the credit union, its services, and branches. Members may continue to transact business at the former 1st Choice Credit Union locations or call 404.832.5800.
In consultation with the Georgia Department of Banking and Finance, the NCUA placed 1st Choice Credit Union into conservatorship on June 14, 2024, and appointed itself as conservator. The NCUA worked to address issues affecting the credit union’s safety and soundness and determined that merging 1st Choice Credit Union into Hope Federal Credit Union was in the best interests of the members.
At the time of the merger, 1st Choice Credit Union was a state-chartered credit union with 7,637 members and assets of $31 million, based on the credit union’s most recent Call Report. Chartered in 1991, 1st Choice Credit Union was a low-income designated and minority deposit institution and served employees, retirees, and former employees of various health systems in Atlanta, Ga., Atlanta Life Insurance Company, South Fulton Community Development Corporation, and members of the Getting Ahead Association.
Before the merger, Hope Federal Credit Union served 40,628 members and had assets of $739 million, based on the credit union’s most recent Call Report.
To make matters even worse, it was just put into conservatorship under the NCUA in June of 2024 only to exit and collapse again!
It’s only a small $31 million in assets credit union but you have to wonder how many automotive subprime loans are buried in that mess as the recent bankruptcy filing of Tricolor has begun to expose.
Thus the question must be asked again:
Which community and regional banks were engaged in this type of irresponsible lending behavior also?
