OGDEN, Utah – America First CU, the state’s largest credit unions, was approved to acquire troubled Mountain High FCU, its second deal for a failed credit union in recent months, NCUA reported Friday.
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Mountain High, a one-time $60 million credit union based in Provo, Utah, had a $5.4 million loss in 2009 and negative net worth.
The deal by $5 billion America First follows last August’s acquisition of Community One FCU, a failed Las Vegas credit union that at one time claimed as much as $180 million in assets.
NCUA also reported Friday it approved an acquisition by Mountain America CU of Salt Lake County Employees FCU, an ailing $3 million credit union based in Salt Lake City.
