Florida places Alliance Credit Union of Florida into conservatorship

The Florida Office of Financial Regulation has placed Alliance Credit Union of Florida, located in Gainesville, into conservatorship and appointed the National Credit Union Administration (NCUA) as conservator.

Member deposits remain protected through the National Credit Union Share Insurance Fund, which insures individual accounts up to $250,000 and provides additional coverage for joint accounts, IRAs, and KEOGH retirement accounts. Backed by the full faith and credit of the U.S. government, the fund ensures financial security for members during this transition.

Alliance’s operations will continue without disruption, with member services available online and at its Gainesville branches. The downtown office (412 East University Avenue) and Millhopper office (4280 N.W. 16th Blvd.) maintain regular business hours, including limited Saturday availability at Millhopper.

The credit union serves 5,394 members with assets of approximately $59 million and caters to residents in five Florida counties and select employee groups.