JOHNSTOWN, Pa. — NCUA has liquidated $2.7 million CambriaFederal Credit Union a local newspaper reported.


According to The Tribune-Democrat, NCUA did not provide a reasonfor the liquidation; the agency has not even shared a news releasewith the trade press as is the usual practice.


Looking at Cambria's financial situation based on NCUA's data,the credit union appeared to be in trouble. Net worth had droppedfrom 9.19% in June 2006 to 6.61% as of March 2007. Loandelinquencies over two months shot up 283.6% in first quarter,after rising 84.4% in the fourth quarter of last year. Return onassets was rocky at a very respectable 1.73% as of September 2006,then down to -1.10% as of December, but landing near its peers at0.53% as of March 2007. Cambria's loan growth dropped precipitouslyfor nearly a year but jumped 13.65% in the first quarter.


Deposits at Cambria FCU are federally insured up to at least$100,000.

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