MADISON, Wis. (1/23/12)--At least seven credit union mergers were announced in several states this month.
- Northwest Hills CU, a $300 million asset credit union in Torrington, Conn., announced the completion of a merger with CHH CU Inc. in Torrington, a $3.3 million asset credit union previously serving the employees of the Charlotte Hungerford Hospital along with the healthcare facilities in northwestern Connecticut. Now everyone in Connecticut's Litchfield County can join Northwest Hills CU.
- Henrietta FCU, Rochester, N.Y., with $4 million in assets, has merged into the $122 million asset Family First CU in Rochester, N.Y. The combined credit union will operate under the Family First name with four branches and 12,000 members (Rochester Business Journal Jan. 17). During the past year, credit union mergers in the state have slowed, said William Mellin, president/CEO of the Credit Union Association of New York (democratandchronicle.com Jan. 19). Many small credit unions are continuing to add more sponsor employee groups to maintain market share or to grow, Mellin added.
- Campus FCU, a $448 million asset credit union based in Baton Rouge, La., will take over Our Lady of the Lake Regional FCU, Baton Rouge, with $5 million in assets under a proposed merger. The latter credit union serves hospital employees at Our Lady of the Lake Regional Medical Center. Both boards have approved the merger, but the Lady of the Lake's 2,000-plus members and the National Credit Union Administration must still approve it (theadvocate.com Jan. 9).
- Pocatello (Idaho) Teachers' FCU, a $17.3 million asset credit union, will merge Feb. 1 into the $114 million asset Idaho State University (ISU) FCU, based in Pocatello. It will become ISU FCU's sixth branch location in the area (kpvi.com Jan. 19).
- First Ohio CU, Fostoria, Ohio, with $8.4 million in assets, will soon merge into Southeast Financial CU, a $425 million asset credit union based in Franklin, Tenn. First Ohio members approved the merger Dec. 22 (fostoriareviewtimes.com Jan. 7).
- Members First CU, a $191 million asset credit union in Midland, Mich., has applied with state regulators to merge with the $110 million asset Central Michigan Community FCU, based in Clare, Mich.
- United Community Bay CU in Bay City, Mich., with $162.4 million in assets, has applied to merge with Mattawan, Mich.-based Access First CU, with $32.8 million in assets.