Buena Park-based Pepsi Cola Federal Credit Union was shut down after the National Credit Union Administration deemed it insolvent and saw “no prospect for restoring viable operations.”
The credit union had about $652,000 in assets and served 558 members. It had posted a total of $14,000 in losses over the past two years.
It was started in 1956 to serve employees of Pepsi Cola Bottling Co. in Buena Park. It is not affiliated with Purchase, N.Y.-based PepsiCo Inc.
It was the fourth credit union to go bankrupt this year.