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Third Credit Union Liquidation of 2010

Friday, February 26, 2010 - 6:48 PM
The first institution to fail on this Friday isn't a bank. It's a credit union. The NCUA just issued this press release:
[NCUA] today liquidated Mutual Diversified Employees FCU of Santa Ana, California, and accepted SchoolsFirst Federal Credit Union’s offer to purchase and assume the credit union
Mutual Diversified Employees FCU was a tiny credit union which had only $6.1 million in assets and 748 members. It's similar in size to the credit union that was liquidated by the NCUA yesterday.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708