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FORT COLLINS, Colo. — NCUA decided to stop the bleeding at Norlarco and notified members that the credit union would be acquired by another credit union in a purchase and assumption transaction. After losing deposits and seeing members flee following a storm of bad publicity over losses from speculative real estate loans in southeast Florida, a raft of lawsuits and a five-month conservatorship, NCUA Region V Director Melinda Love posted a letter to members on the CU’s Web site Oct. 26.

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