Navy Federal Credit Union has acquired a small credit union with two branches in Fort Meade, Md.
Fort Meade Community Credit Union, which has been operated by Navy since Monday, was not federally insured. Its first-quarter call report, provided by Navy FCU, showed the 4,355-member credit union was classified as undercapitalized with a net worth of $1.8 million, assets of $32.2 million and a net worth ratio of 5.48.
Navy Federal, the nation's largest credit union ($81.5 billion in assets, 7 million members), plans to maintain both of Fort Meade Community's branches, one on the Fort Meade base, the other three miles southeast of Fort Meade in the Odenton Shopping Center.
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