The NCUA, which has run High Desert Federal Credit Union since last October, plans to merge it with another credit union by June 30, the agency recently announced."This transaction, known as a purchase and assumption, is the most financially sound decision and is in the best interest of High Desert's membership. It will ensure you continue to have high-quality, uninterrupted financial services into the future," NCUA Region V Acting Director Jane Walters wrote members of the Apple Valley, Calif.-based credit union on March 20.The agency hasn't announced what credit union will acquire High Desert, but Walters wrote that all of the credit unions being considered have a history of sound financial management.High Desert ran into trouble with its real estate loan portfolio and is not making those loans any more.On its most recent 5300 Call Report, its net worth ratio was less than 2% and had $133 million in assets. In 2006, it had assets of $190 million.The credit union has 30 home construction loans on its books, compared with 150 at its peak, according to the Victorville Daily Press."The losses on construction loans have been the primary culprit in our financial decline," High Desert FCU Chief Operations Officer Andy Baumann told the newspaper. "We are still working to bring those to completion. We're continuing to work with borrowers."–[email protected]