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The NCUA board, meeting behind closed doors, approved Thursday the merger of Corporate One with Southeast Corporate, according to a statement jointly issued by the corporates.

In that statement, the corporates reviewed the history of their merger effort: “On September 13, 2011 the corporates signed a letter of intent to merge, and on January 18, 2012, the corporates signed a definitive merger agreement, which governs the terms and conditions that binds the organizations together, and formalizes many of the merger details.”

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