California's $3.1 billion Kinecta Federal Credit Union, party to a delayed mega-merger with the $1.1 billion NuVision CU, is in recovery mode this month, tending to a battered mortgage portfolio.

Two years ago the planned consolidation, once described as the largest ever, was the talk of the industry, but as of last week, final regulatory and membership approval is not expected until at least mid-2013.

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