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Merger kit now online with expanded resources
DENVER (10/7/10)--A merger kit compiled by Westerra CU, Denver, and Nice Enterprises Inc. is available online with expanded information. Credit unions can access the Web-based version with a password. The new version includes new and updated accounting requirements, and the impact financial position and valuation have on merger negotiations and decisions. The kit is 1,000 pages, with more than 100 PDF documents, spreadsheets and presentations that can be customized. Westerra CU has completed three mergers since the kit was launched in 2007. Two were completed in 20 months. Nice Enterprises helped the credit union with strategic planning. They compiled tools to help credit unions with the merger process, like developing a strategy, solidifying merger relationships, aligning cultures, communicating benefits for a successful member vote, gaining regulatory approval and integrating systems. More than 50 credit unions nationwide use the kit, said Westerra and Nice Enterprises.
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