Community One Federal Credit Union

Community One Federal Credit Union was a member-owned financial cooperative headquartered in Las Vegas, Nevada. Although its name included “Federal Credit Union,” the available reference material describes it as a state-chartered credit union. It served members in the Las Vegas and broader Clark County market through the conventional activities associated with a community credit union, although the available sources do not provide a reliable product catalog, branch count, founding date, leadership history, or detailed financial statements. The institution operated during a period of severe economic stress in Nevada. The local economy experienced significant deterioration, and Community One incurred extensive losses as those conditions affected its financial position. The available account characterizes the failure as being driven by the local economic problems rather than by a documented product launch, merger strategy, or leadership transition. Its difficulties ultimately led to regulatory closure by the National Credit Union Administration (NCUA), the federal agency responsible for supervising and resolving federally insured credit unions. Community One was closed in 2009. At the time of its closure, it served 21,098 members, making the event material within the local credit-union sector. It was reported to be the second credit union to close in Clark County during that year, placing its failure within a wider pattern of financial-institution stress in the region. On August 12, 2009, America First Federal Credit Union acquired Community One following the NCUA-ordered closure. The transaction transferred the surviving member and institutional relationships to the acquiring credit union, but Community One no longer operates as an independent brand. Because the available reference material is limited, details about the institution’s founding, original charter, financial products, branch network, employees, directors, and the precise terms of the acquisition remain undocumented here. Its historical significance is therefore primarily associated with its 2009 failure and resolution during the Nevada economic downturn.

Community One Federal Credit Union was a Las Vegas, Nevada-based credit union serving members in Clark County. The available historical record identifies it as a state-chartered credit union, despite the “Federal Credit Union” wording in its name. Information about its founding, early development, charter history, management, locations, and product range is not established in the available reference material. The institution’s final period was shaped by the economic difficulties affecting the Las Vegas area and Nevada more broadly. According to the available account, Community One suffered extensive losses as a result of local economic problems. These losses weakened the credit union to the point that it could not continue as an independent institution. The failure occurred during a difficult period for financial organizations in the region, when declining economic conditions placed pressure on lenders and member-owned institutions. The National Credit Union Administration closed Community One in 2009. At closure, the credit union served 21,098 members. It was described as the second credit union to close in Clark County that year, making the event part of a broader sequence of local credit-union failures rather than an isolated institutional development. Following the closure, America First Federal Credit Union acquired Community One on August 12, 2009. The acquisition represented the resolution of the failed institution and ended Community One’s existence as an independent operating credit union. The available sources do not specify whether all branches, employees, deposits, loans, or other assets were transferred, nor do they provide the transaction’s financial terms. Community One should therefore be treated as a defunct local credit-union brand whose documented history culminated in regulatory closure and acquisition during the 2009 economic downturn.

1. 2009Regulatory closure

   The National Credit Union Administration closed Community One Federal Credit Union after the institution incurred extensive losses associated with local economic problems.

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2. 2009Acquisition by America First Federal Credit Union

   America First Federal Credit Union acquired Community One on August 12, 2009, following the regulatory closure. Community One had 21,098 members at the time.

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• 2009Resolution through acquisition by America First Federal Credit UnionM&A

  Community One suffered extensive losses during local economic difficulties and was closed by the National Credit Union Administration.

  What changed. America First Federal Credit Union acquired Community One on August 12, 2009, following the regulatory closure.

  Aftermath. Community One ceased operating as an independent credit union brand. The available source does not provide the transaction’s financial terms or detailed information about transferred assets and liabilities.

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• 2009Community One Federal Credit Union closes and is acquired by America First Federal Credit Union

  Community One Federal Credit Union was closed by the National Credit Union Administration after extensive losses associated with local economic problems. America First Federal Credit Union acquired the institution on August 12, 2009. Community One had 21,098 members at the time and was the second credit union to close in Clark County during 2009.

  BankruptcyM&ARegulation
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1. Community One Federal Credit Union