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The head of a Seattle credit union bypassed in the merger process to take over a failed but small competitor expressed disappointment today at the outcome but said he still supports the final result of protecting members.

Commenting on the state and NCUA-engineered takeover of the $27 million Transportation Northwest CU by the $4 billion Alaska USA FCU, Tom Graves, president/CEO of Prevail CU, said some steps in the NCUA process of awarding the final bid to the Anchorage CU appeared puzzling “and beyond my scope of experience with this sort of thing.”

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