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ALEXANDRIA, Va. — Nearly six months into its conservatorship, Cal State 9 Credit Union of Concord, Calif., will be absorbed by $4.2 billion Patelco Credit Union of San Francisco.

NCUA, which has run Cal State 9 since the California Department of Financial Institutions asked the agency to step in as conservator last November, selected Patelco as the best bid and best provider of ongoing CU services to Cal State 9′s remaining 29,000 members. The deal is expected to become effective on June 30. NCUA reported Cal State 9 assets at $339 million.

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