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Months after the Clarkston, Mich.-based Clarkston Brandon Community Credit Union was placed into conservatorship, the beleaguered credit union merged into the East Lansing, Mich.-based Michigan State University Federal Credit Union, the NCUA announced March 25.

In January, the credit union’s former CFO, Michael Anthony LaJoice, confessed to embezzling $20 million, and the FBI opened an investigation into LaJoice’s activities. The State of Michigan Department of Insurance and Financial Services placed the credit union into conservatorship on Jan. 13 and appointed the NCUA as conservator.

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