The NCUA announced Friday that Teachers Credit Union hascompleted a purchase assumption of the now-closed Lakeside Federal Credit Union.
|According to an NCUA news release, the $2.6 billion, South Bend,Ind.-based Teachers CU purchased the loan portfolio of Lakeside FCUand assumed its former members.
|The South Bend, Ind.-based Lakeside was liquated and alloperations were suspended Thursday after the NCUA determined it tobe insolvent. It was the fifth federal credit union to be liquated this year.
|Originally chartered in 1931, Teachers CU is a federallyinsured, state chartered credit union with 269,362 members.Teachers CU serves members residing in Indiana and Michigan's Cassand Berrien counties.
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