SANTA ANA, Calif. – SchoolsFirst FCU, with $9.4 billion in assets, will pick up three branches in suburban Los Angeles with the merger of All Valley FCU, a one-time $95-million teachers credit union that NCUA designated as in poor financial condition.

All Valley, which serves employees of various Los Angeles school districts and some select groups, had losses of $1.4 million in 2012 and of $360,000 in 2011 and net worth of just 4% at year end. The troubled credit union operates branches in Lancaster and inside Walmart stores in Santa Clarita and Palmdale.

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