On Friday, the California Department of Financial Institutions closed Kern Central Credit Union, headquartered in Bakersfield, California, and the National Credit Union Administration (“NCUA”) was appointed liquidating agent. As liquidating agent, the NCUA entered into an agreement with Self-Help Federal Credit Union, headquartered in Durham, North Carolina, to assume the assets and liabilities of Kern Central Credit Union. At liquidation, Kern Central Credit Union had approximately $34.9 million in assets. This is the first federally insured credit union liquidation in 2010.