Citing loan losses, Washington Department of Financial Institutions closed The Union Credit Union of Spokane on Friday and appointed the NCUA as liquidating agent.
The state agency approached 18 other credit unions in the state and couldn't find a merger partner, the agency's top credit union regulator Linda Jekel told the Seattle Times.
Therefore, it made deals for Spokane-based Numerica Credit Union to take its members and their deposit accounts and for Alaska USA FCU to assume some assets and liabilities, such as its loan portfolio.
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