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TUCSON, Ariz. — On top of the IndyMac Bank collapse in California, the weekend failure of a large Arizona/Nevada bank holding company is providing some challenging on-the-job training this week for Tucson credit unions in getting out the deposit insurance message and dealing with the media on safety/soundness queries.

“I’ll bet we had couple hundred calls to our offices yesterday and over the weekend as a result of that failure,” declared Ray Alexander, president/CEO of the $65 million Pyramid CU, referring to staffers fielding calls from worried members following the Mutual Bank of Omaha takeover of First National Bank of Arizona plus two banks in Reno and Newport Beach, Calif.

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