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NCUA liquidates Mutual Diversified Employees FCU
ALEXANDRIA, Va. (3/2/10)—Santa Ana, Calif.-based Mutual Diversified Employees FCU on Friday was liquidated by the National Credit Union Administration (NCUA). Mutual Diversified’s members and assets, which totaled 748 and $6.1 million, respectively, as well as its shares, will be taken on by SchoolsFirst FCU, which is also based in Santa Ana. Mutual Diversified is the third federally-backed credit union to be shuttered in 2010 and was one of two federal credit unions shut down last Friday. SchoolsFirst, with 27 branches and 6 express centers throughout Southern California, currently serves 433,521 members and holds $8 billion in assets.


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