In June 2010, the NCUA signed a Letter of Understanding and Agreement (LUA) with the Credit Union, which NCUA amended in May 2011 to allow NCUA to run the bidding process for a potential merger partner. NCUA held a bidders’ meeting in November 2011, and NCUA’s Office of the General Counsel approved an emergency merger. However, several weeks later, the Credit Union could not identify an appropriate merger partner.