APPLE VALLEY, Calif. – NCUA said last night it has taken under conservatorship another large California credit union, High Desert FCU, a one-time $185 million credit union that had almost $5 million in losses for the first half of the year.
NCUA will run the credit union, now $149 million, under conservatorship while it seeks a permanent resolution, like merger or liquidation.
The action comes just two weeks after NCUA liquidated Kaiperm FCU, a one-time $145 million credit union in Oakland, and five weeks after NCUA took over Valley CU, a one-time $135 million San Jose credit union.
In July NCUA also liquidated and sold off the remnants of Cal State 9 CU, a one-time $440 million credit union in Concord, and Sterlent CU, in Pleasanton, once a $125 million credit union.
High Desert FCU was chartered in 1951 and today serves residents of San Bernardino County.
