Effective last Friday, one of NCUA's smallest conserved creditunions, the $1.2 million Birmingham Financial FCU, has beenformally acquired by the $113 million eCO Credit Union ofBirmingham.
The purchase/assumption deal follows an NCUA bidding procedurestemming from the NCUA's conservatorship of Birmingham Financialin October.
“We got word Friday that we were the successful bidder,” saidMelissa Reeves, marketing manager of eCO, whose full nameisECOEducators and Community CU. Under the NCUA P/Aprocedure, Birmingham Financial is being liquidated.
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