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High Desert Federal Credit Union Closes

June 2009
High Desert Federal Credit Union Closes

High Desert FCU Members Will Be Served by Alaska USA FCU; Member Accounts are Safe and Federally Insured

ALEXANDRIA, Va. (June 18, 2009) -- The National Credit Union Administration (NCUA) today accepted Alaska USA Federal Credit Union’s offer to purchase certain assets and assume the shares and certain liabilities of High Desert Federal Credit Union (High Desert) of Apple Valley, California. Alaska USA Federal Credit Union, headquartered in Anchorage, Alaska, will provide High Desert members with uninterrupted credit union service.

NCUA has been overseeing the operations of High Desert since October, 16, 2008, when the NCUA Board placed the credit union into conservatorship. The action was taken to protect member assets while addressing operational issues within High Desert. While ensuring safety and soundness, NCUA has been operating the credit union with the goal of continuing credit union service to members through a merger with or purchase by another credit union.

Alaska USA Federal Credit Union was chartered in 1948. It is a full service $3.9 billion federally chartered credit union with more than 350,000 members located throughout the United States. Alaska USA has 52 branches in Alaska and Washington and also serves its members through over 5,600 shared service center locations nationwide.

Founded in 1951, High Desert Federal Credit Union was originally chartered to serve George Air Force Base in Victorville, California, and now serves the residents of San Bernardino County, California. High Desert has assets of $102 million and serves over 11,000 members.
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