In a NCUA supervisory merger, the $4.8 billion America First Federal Credit Union has taken over the $50 million Mountain High FCU of Provo, Utah.
America First of Riverdale, Utah had been providing management assistance to the troubled Provo CU for several months with NCUA deciding last week to pick America First as the successor. Terms were not disclosed.
"It was a case of NCUA deciding that Mountain High had insufficient capital and could not continue," explained John Lund, executive vice president of America First.
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