Western Federal Credit Union purchased and assumed the assets of Oakland Municipal Credit Union after the NCUA was named Oakland Municipal's liquidating agent.
Oakland Municipal, which had assets of $88 million, had serious financial problems last year. Its net income fell 689.9% in the fourth quarter, following a 272.8% decline in the third quarter.
Its net worth ratio was 4.95% in the fourth quarter, up from 4.73% in the third quarter.
Its delinquent loan ratio was 14.39% in the fourth quarter and 13.73% in the third quarter.
It had a negative return on average assets during the third and fourth quarters.
Oakland Municipal was chartered in 1964 and had 7,800 members.
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