The NCUA announced July 17 that Teachers Credit Union has completed a purchase assumption of the now-closed Lakeside Federal Credit Union.
According to an NCUA news release, the $2.6 billion, South Bend, Ind.-based Teachers CU purchased the loan portfolio of Lakeside FCU and assumed its former members.
The South Bend, Ind.-based Lakeside was liquated and all operations were suspended July 16 after the NCUA determined it to be insolvent. It was the fifth federal credit union to be liquated this year.
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