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NCUA named conservator of Calif.s Tracy FCU
ALEXANDRIA, Va. (3/23/10)—The National Credit Union Administration (NCUA) has been named conservator of Tracy, Calif.-based Tracy FCU to ensure safe and sound credit union operations and continuing service to members. The NCUA announced the action late last week. In a release, the NCUA said that Tracy FCU, which holds $24 million in assets from 5,900 members, will “continue to conduct normal financial transactions” such as deposits, loan payments, and share drafts. All accounts at the credit union are covered up to $250,000. The NCUA has intervened in the affairs of six credit unions so far this year, resulting in three supervisory mergers, and three involuntary liquidations. The NCUA last week reported that there are 337 CAMEL Code 4 and 5 credit unions as of last month, with 111 credit unions in Tracy FCU’s bracket of $10 million to $100 million in assets.


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