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One of Arizona’s troubled and undercapitalized credit unions, the $370 million AEA FCU of Yuma, acknowledged Monday it is closing a branch, downsizing staff and “put out merger feelers” but is still prepared to go it alone in 2010.

The southwest Arizona CU, located in a low-income, migrant area with 20%-25% unemployment, said it realizes the magnitude of its loan-loss and delinquency problems, but “we feel we’ve already made moves in our business loan area to get things under control,” said Denise McGregor, executive vice president.

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