PARCHMENT, Mich. – First Community FCU, which has grown to $430 million, has applied to state regulators to acquire Education First CU, a troubled $60 million Southgate institution.
Education First CU is a one-time $75 million credit union that reported a $1.1 million loss for 2008 and a $1.3 million loss for 2009.
First Community FCU is the product of a 2006 merger with USFCU.
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