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.
|High Desert FCU The credit union did not file its third quarterdata with the NCUA.
|The credit union, which was chartered in 1951, serves people wholive, worship and work in San Bernardino County, Calif.
|Accounts at credit unions are insured to at least $250,000 bythe National Credit Union Share Insurance Fund.
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