CONCORD, Calif.–With a bidders conference reportedly slated thisWednesday in Phoenix, Bay area credit unions were lining up thisweek to submit offers to NCUA to acquire the $339 million asset CalState 9 CU, placed under conservatorship last November.

It was uncertain how many of the area's largest CUs wouldactually submit bids to the agency but representatives from CUslike The Golden 1 CU of Sacramento, Patelco CU of San Francisco,Redwood CU of Santa Rosa and Travis CU, of Vacaville, were thoughtto be likely suitors and would attend a Phoenix area meeting by onecredit union official close to the situation. NCUA's Region V ishandling the conservatorship.

NCUA formally announced last week it was starting a biddingprocedure in connection with a purchase & assumptiontransaction, much like the Feb. 29 takeover by Public Service CU ofDenver of the failed Norlarco CU of Fort Collins, Colo.

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