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In NCUA Deal, Security Service FCU To Take Over Norbel Credit Union

Expanding its Colorado footprint, the $5.5 billion Security Service Federal Credit Union of San Antonio is planning a takeover of the ailing $120 million Norbel Credit Union of Fort Collins, Colo.

By Jim Rubenstein | Updated on July 20, 2010

Expanding its Colorado footprint, the $5.5 billion Security Service Federal Credit Union of San Antonio is planning a takeover of the ailing $120 million Norbel Credit Union of Fort Collins, Colo. in a transaction subject to final NCUA and state regulatory approval.

The transaction, to be completed by July 31, marks Security Service’s second NCUA purchase and assumption deal in 10 months after it successfully merged the also struggling $78 million West Texas CU of El Paso, Texas.

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