type corporate credit union industry financial services fate defunct after being placed into conservatorship founded 1974 1974 headquarters lenexa kansas united states key people fran ois g. henriquez ii president & ceo total assets 27.116 billion 2008 website uscentral.coop u.s. central federal credit union was the largest corporate credit union in the united states . unlike consumer driven credit unions referred to as natural person credit unions in the industry u.s. central provided its services only to other corporate credit unions in effect acting as the corporate credit union s credit union . the organization was founded in 1974 . u.s. central did not serve consumers directly a role fulfilled by consumer credit unions it was instead established to serve the credit union industry by providing opportunities for investments through government approved instruments and providing liquidity credit needs to regional and state corporate credit unions which need them . u.s. central also provided other industry standard services such as payment systems electronic funds transfer services and item processing . the organization also provided economic services and forecasts specific to the credit union industry . many of its operations and services paralleled that of a central bank except it serves corporate credit unions rather than commercial banks . u.s. central federal credit union was located in lenexa kansas . in january 2009 the national credit union administration injected 1 billion into u.s. central . 1 on march 20 2009 ncua placed u.s. central credit union into conservatorship . 2 the ncua was unable to obtain a buyer for the services and began winding down its operations . 3 the credit union was officially shut down october 29 2012 . 4 see also edit ncua corporate stabilization program references edit gillam carey . u.s. central credit union may form bad bank ceo . reuters . 22 march 2009 . ncua conserves u.s. central and western corporate credit unions press release . national credit union administration . 2009 03 21 . retrieved 2009 03 21 . mcgarvey robert december 22 2011 . no winning bid ncua to shut down u.s. central bridge . credit union times . retrieved december 22 2011 . u.s. central bridge closed . ncua . retrieved 11 may 2013 . v t e great recession by region africa americas united states south america asia europe oceania united states specific automotive industry crisis california budget crisis housing bubble housing market correction subprime mortgage crisis banking losses and fraud anglo irish bank hidden loans controversy libor scandal tom hayes soci t g n rale trading loss forex scandal se n fitzpatrick bernard madoff tom petters scott rothstein allen stanford government entities consumer financial protection bureau federal deposit insurance corporation federal home loan banks federal housing administration federal housing finance agency federal housing finance board federal reserve system government national mortgage association irish bank resolution corporation national asset management agency office of federal housing enterprise oversight office of financial stability uk financial investments government policy and spending responses banking and finance stability and reform anglo irish bank corporation act 2009 banking special provisions act 2008 china japan south korea trilateral summit commercial paper funding facility dodd frank wall street reform and consumer protection act emergency economic stabilization act of 2008 irish emergency budget 2009 irish budget 2010 irish budget 2011 irish budget 2012 irish budget 2013 temporary liquidity guarantee program term asset backed securities loan facility troubled asset relief program 2008 united kingdom bank rescue package bank stress tests eu u.s. stimulus and recovery 2008 european union stimulus plan 2008 09 keynesian resurgence american recovery and reinvestment act of 2009 chinese economic stimulus program economic stimulus act of 2008 fraud enforcement and recovery act of 2009 green new deal housing and economic recovery act of 2008 national fiscal policy response to the great recession zero interest rate policy government interventions rescues and acquisitions list of banks acquired or bankrupted during the great recession non banking chrysler general motors securities involved and financial markets auction rate securities collateralized debt obligations collateralized mortgage obligations credit default swaps mortgage backed securities secondary mortgage market social responses tea party protests united states ; 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