The NCUA liquidated Land of Enchantment FCU, and Guadalupe Credit Union purchased and assumed its assets, liabilities and members.
Land of Enchantment FCU, which was located in Santa Fe, N.M., had assets of approximately $8.6 million, according to the NCUA, and its assets declined 5% in the fourth quarter of 2010. Assets had declined during each of the previous three quarters as well.
Its net worth ratio was 1.4% at the end of December.
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