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Florida CU Placed into Conservatorship

ALEXANDRIA, Va.- Marion County Credit Union of Ocala, Fla. ($73.7 million) was taken over by NCUA at the request of the Florida Department of Financial Services, after state officials placed the credit union into conservatorship. Service to the credit union's more than 13,000 members will continue uninterrupted and member funds...

By Staff Writer | Updated on February 04, 2003

ALEXANDRIA, Va.- Marion County Credit Union of Ocala, Fla. ($73.7 million) was taken over by NCUA at the request of the Florida Department of Financial Services, after state officials placed the credit union into conservatorship. Service to the credit union’s more than 13,000 members will continue uninterrupted and member funds are insured up to $100,000 by the National Credit Union Share Insurance Fund,” NCUA emphasized. The conservatorship enables the continuance of normal operations with expert management assistance available to fix previous service and operational weaknesses. The credit union, chartered by the state in 1954, serves Marion County.

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