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Calling its experience a new mark of regulatory delay, the $65 million SPE Federal Credit Union in Pennsylvania completed a merger of a healthy and neighboring CU this week “and it only took two years,” according to its frustrated CEO, Russell Brooks.

The delay in Brooks’ estimation was apparently the result of both “the NCUA turmoil on the corporates” and last year’s change in field of membership/community charter rules and how they applied to SPE’s planned acquisition of the $11.9 million Huntingdon County FCU.

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