Friday, November 16, 2007

Ent closer to Fort Collins?

The board of directors at Ent Federal Credit Union has sent the results of its Thursday night vote on whether to bid for Norlarco Credit Union in Fort Collins to the National Credit Union Administration. The NCUA board is scheduled to meet Dec. 13, when it is expected to approve a buyer. Although the Ent board's vote was not revealed, an action of sending the decision to the NCUA indicates Ent's interest. Ent's senior vice president Jim Moore confirmed the board's action Friday. The NCUA, which insures credit union deposits, took over Norlarco in May amid mounting losses from construction loans in Florida. The agency told Norlarco’s 43,366 members last month it was seeking buyers for the credit union.

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