The NCUA said today it has assumed control of the operations of $1.6 billion Eastern Financial Florida Credit Union.
The Florida Office of Financial Regulations, Bureau of Credit Union Regulation appointed NCUA as conservator today after placing Eastern Financial into conservatorship.
NCUA has assumed control of the credit union and has appointed officials from Space Coast Credit Union of Melbourne, Fla., to temporarily manage Eastern Financial's day-to-day operations, the regulator said.
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