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CU in conservatorship to sell new headquarters
APPLE VALLEY, Calif. (5/12/09)--High Desert FCU, which was placed into conservatorship by the National Credit Union Administration (NCUA) in October, is selling its new headquarters building. The Apple Valley, Calif.-building was completed in September, but the credit union never moved in. The property--a 24,000 square foot, two-story building--is listed for $5.2 million. The listing price is about $800,000 less than it cost to construct the building (McClatchy-Tribune Regional News May 10). Although the new building was supposed to house the credit union’s corporate headquarters, High Desert FCU CEO Ken Chapman told the newspaper it would be in the credit union’s best interest--due to the economy--to sell the property.


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