DENVER — In a new twist to NCUA's takeover of two Colorado credit unions, the state's largest, the $1.5 billion Bellco Credit Union, is waging a bold media bid this month to woo former New Horizons Community members to switch institutions.

On a Bellco Web site and in bus bench ads with a Texas spin and titled “Don't Let Your Money Leave You Behind,” the Denver CU takes aim at a San Antonio competitor, the $4 billion Security Service Federal Credit Union, which was declared by NCUA and state regulators in June the successful bidder for the failed $152 million New Horizons.

“We've tied all along to take the high road and we are disappointed at these kinds of ads,” said John Worthington, senior vice president of Security Service, which won the purchase and assumption bid to take over New Horizons which went into NCUA conservatorship more than a year ago based on faulty construction loans.

Security Service, which has had a Colorado branch presence for 27 years and had previously merged other small and ailing Colorado CUs, acknowledged that it could be a potential bidder “if the opportunity arises” to make a bid on the $400 million Norlarco Credit Union of Fort Collins, which went into quiet NCUA conservatorship last July.