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Thursday, April 24, 2008

Subprime debacle traps even credit-worthy

Norlarco Credit Union continued to bleed deposits and depositors five weeks after federal regulators confirmed they had seized the organization and dismissed its board of directors.

Norlarco lost $20 million in deposits and nearly 900 members from Aug. 31 to Sept. 30, according to the statement of financial condition released Tuesday.

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