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Three days after the NCUA took control of Eastern Financial Florida Credit Union, Space Coast Credit Union, appointed by the regulator to temporarily manage the Miramar, Fla.-based financial institution, has proposed a merger of the two credit unions.

On April 24, the Florida Office of Financial Regulations’ Bureau of Credit Union Regulation appointed the NCUA as conservator and the NCUA gave over the reins to senior management from Space Coast. The news of the intent to merge came on April 27, the same day officials from Melbourne, Fla.-based Space Coast traveled to Eastern Financial.

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