Colorado CU in Conservatorship

FORT COLLINS, Colo. - NCUA has taken over Norlarco CU in the face of mounting mortgage losses. The CU has seen a major increase in real estate delinquencies and in related losses in the second quarter. Mortgage delinquencies rose from $6 million in March to $56 million in June, while net losses rose from $3 million in the first quarter to $5 million. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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