State Regulators Take Over SmallPennsylvania CU

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HARRISBURG, Pa. - (09/15/04) -- The Pennsylvania Department ofBanking said Monday it took Philadelphia Postal Workers CU underconservatorship. It's not clear what prompted the takeover becausethe $3.7 million credit union has high capital, 11.5%; and had lowdelinquencies, just 0.7%; and no charge-offs, at mid-year.Officials at the state regulator would not comment on the reasonfor the takeover.

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