The economic woes of the sand states continue to cause problems for credit unions.
On Sept. 25, the NCUA placed Keys Federal Credit Union of Key West, Fla., into voluntary conservatorship and United Federal Credit Union purchased and assumed the assets, loans and shares of Clearstar Financial Credit Union of Reno, Nev.
The officers of Keys FCU, a 13,000-member credit union with assets of $180 million, remained in place and voluntarily ceded control to the NCUA, which is acting as the agency's board.
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