Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
March mergers continue trend
WASHINGTON (5/1/12)--The National Credit Union Administration (NCUA) announced 21 mergers in March, citing six primary reasons for the consolidations.

Among the reasons cited for the mergers were expanded services, poor financial conditions, poor management, lack of sponsor support, lack of growth and loss of field of membership.

Credit Union National Association statistics show 14 mergers of affiliated credit unions took place in March, and a total of 54 mergers of affiliated credit unions had taken place year to date through March. That compares with 61 mergers of affiliated credit unions year-to-date in 2011.

NCUA approved the following mergers:

  • Anne Arundel Co. Employees CU, with $82 million assets, Millersville, Md., into $2.2 billion State Employees CU of Maryland, Linthicum, Md.
  • Sparks (Nev.) City Employees FCU, with $13 million assets, into $103 million asset Great Basin FCU, Reno, Nev.
  • Filene FCU,  with $19 million assets, Boston, into $621 million Webster First FCU, Worcester, Mass.
  • Connecticut Energy Employees FCU, with $3 million assets, Bridgeport, Conn., into $234 million asset Mutual Security FCU, Shelton, Conn.
  • Valleystone CU, with $65 million in assets, Willbraham, Mass., into $412 million asset Polish National CU, Chicopee, Mass.
  • Dixiecon FCU, with $227,000 in assets, Richmond, Va., into $28 million asset Hopewell (Va.) Chemical FCU.


  • McKinley Memorial FCU with $79 million in assets, Willow Grove, Pa., into $532 million asset Freedom CU, Warminster, Pa.
  • St. Agnes Hospital FCU, with $4 million in assets, Fresno, Calif., into $1.9 billion asset Educational Employees CU, also of Fresno.
  • Intext Employees FCU, with $1 million assets, Scranton, Pa., into $165 million asset NET FCU, also of Scranton.
  • Kingdom FCU, with $415,000 in assets, Norfolk, Va., into $375 million asset ABNB, Chesapeake, Va.
  • East Bay Postal FCU, with $8 million assets, Oakland, Calif., into $187 million asset Pacific Postal CU, San Jose, Calif.
 

  • Wilberforce University FCU, with $148,000 in assets, into $84 million asset Heartland FCU, Dayton, Ohio.
  • West Ohio United Methodist Conference CU, with $20 million in assets, Cincinnati, into $56 million asset, East Ohio Methodist CU, North Canton, Ohio.
  • Area West FCU, with $273,000 in assets, Houston, into $39 million Transtar FCU, also of Houston
  • HHA FCU, with $929,000 in assets, Houston, into $33 million $33 million asset Space City CU, also, of Houston.
  • Ely (Minn.) Steel workers CU, with $799,000 in assets, into $31 million asset Northridge Community CU, Hoyt Lakes, Minn.


  • Bilt-Well CU, with $922,000 in assets, Dubuque, Iowa, into $28 million asset Holy Ghost Parish CU, also of Dubuque.
  • Hometown CU, with $7 million in assets, Quincy, Ill., into $51 million asset United Community CU, also of Quincy.
  • Madison V.A. Employees' CU with $2 million in assets, Madison, Wis., into $120 million asset Dane County CU, also of Madison.
  • Tower CU, with $45 million in assets, Wausau, Wis., into $356 million asset Connexus CU, also of Wausau.
  • Metro CU with $30 million in assets, Superior, Wis., into $77 million asset Hermantown (Minn.) FCU.


RSS print
News Now LiveWire
For the last 75 years, even in the most difficult of times, Mill Town #CU has been there for the community it serves. Read #NewsNow Tues.
8 hours ago
The 1st vid shows how consumer can become victim and, advice to those who think they've been targeted. http://t.co/hr9VHpzEze
12 hours ago
.@TheNCUA has released two videos designed to raise awareness of elder financial abuse. http://t.co/iddSxr7H40
12 hours ago
Celebrate #100MM with @MDDCCUA1 at Orioles v Blue Jays tonight at Camden Yards
13 hours ago
The At Home In Lawrence mortgage program from @MetroCU is designed to help revitalize Lawrence, Mass.
13 hours ago