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Mountain America Federal Credit Union announced Thursday it plans to exit New Mexico in coming months by spinning off its two branches in Albuquerque to Sandia Laboratory Federal Credit Union.
Sandia Laboratory FCU, which had nearly $4.1 billion in assets on June 30, said its assets would grow to $4.3 billion when the spinoff is complete. The deal was approved by the NCUA and requires a vote approving the deal from affected Mountain America members.
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