WASHINGTON — The NCUA assumed control of High Desert FCU, whichlost $4.6 million in the second quarter of 2008.
The Apple Valley, Calif.-based credit union was placed intoconservatorship and is operating under new management, the agencysaid.
The credit union, which has more than 13,000 members and $149million in assets, experienced a 4.5% decline in loan income, a3.6% decline in the value of its real estate loans and a 2.3% dropin investment income, during the second quarter.
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