Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Financial factors led to May NCUA mergers
WASHINGTON (7/13/12)--The National Credit Union Administration (NCUA) announced 24 mergers were approved in May, citing poor financial conditions as the primary factor in nearly half of the mergers reported.

Expanded services, inability to obtain officials, and loss of field of membership also played a part in many of the mergers.

NCUA approved the following mergers:

  • UFCW Local 342 FCU, with $5.5 million in assets, Mineola, N.Y., into $4.7 billion asset Bethpage CU, Bethpage, N.Y.;
  • Hartford Postal Employees CU, with $10 million in assets, Wethersfield, Conn., into $1.3 billion asset American Eagle CU, East Hartford, Conn.;
  • Massachusetts State Employees CU, with $71 million in assets, Boston, Mass., into $1 billion asset Metro CU, Chelsea, Mass.;
  • Mountain Valley FCU, with $6.9 million in assets, Nitro, W. Va., into $169 million asset West Virginia FCU, Salem, W. Va.;
  • California Pacific FCU, with $41 million in assets, and CD FCU, with $76 million in assets, both of Concord, Calif., into $1.6 billion asset Western FCU, Manhattan Beach, Calif.;


  • University Drive VAH FCU, with $8 million in assets, Pittsburgh, Pa., into $12 million asset VA Pittsburgh Employees FCU, Pittsburgh, Pa.;
  • Tetco Employees FCU, with $2.4 million in assets, West Chester, Pa., into $260 million asset Benchmark FCU, West Chester, Pa.;
  • South Berkeley FCU, with $2.3 million in assets, Martinsburg, W. Va., into $286 million asset Bayer Heritage FCU, Proctor, W. Va.;
  • Queen Street Baptist Church FCU, with $70,699 in assets, Hampton, Va., into $1.6 billion asset Langley FCU, Newport News, Va.;
  • New Bethel A.M.E. FCU, with $95,382 in assets, Philadelphia, Pa., into $854 million asset Philadelphia FCU, Philadelphia, Pa.;
  • Lower Bucks Hospital FCU, with $1.7 million in assets, Bristol, Pa., into $1.2 billion asset American Heritage FCU, Philadelphia, Pa.;


  • North Orange County CU, with $61 million in assets, Fullerton, Calif., into $565 million asset Credit Union of Southern California, Whittier, Calif.;
  • Atlanta Teachers FCU, with $7.2 million in assets, Atlanta, Ga., into $75 million asset Credit Union of Atlanta, Atlanta, Ga.;
  • Baptist Regional Medical FCU, with $8.1 million in assets, Pensacola, Fla., into $127 million asset Harvesters FCU, Cantonment, Fla.;
  • St. Luke Parish FCU, with $8.9 million in assets, Beavercreek, Ohio, into $78 million asset Incenta FCU, Englewood, Ohio;
  • Georgia Department of Public Safety CU, with $13 million in assets, Atlanta, Ga., into $533 million asset Justice FCU, Chantilly, Va.;
  • Abilene Telco FCU, with $4.5 million in assets, Abilene, Texas, into $10 million asset First Priority CU, Abilene, Texas;


  • Sunrise CU, with $18 million in assets, Green Bay, Wis.,  into $803 million asset Fox Communities CU, Appleton, Wis.;
  • Cleaver-Brooks CU, with $1.4 million in assets, Milwaukee, Wis., into $134 million asset Appletree CU, West Allis, Wis.;
  • CY-Hannibal CU, with $1 million in assets, Palmyra, Mo., into $51 million asset United Community CU, Quincy, Ill.;
  • Hawaii Stevedores/Castle & Cooke Hi CU, with $11 million in assets, Honolulu, Hawaii, into $714 million asset Aloha Pacific FCU, Honolulu, Hawaii;
  • Shoshone County School Employees CU, with $930,417 in assets, Pinehurst, Idaho, into $486 million Potlach No 1 FCU, Lewiston, Idaho; and
  • Montana First CU, with $63 million in assets, Missoula, Mont., into $451 million asset Horizon CU, Spokane Valley, Wash.


RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
17 hours ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
1 Day ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
1 Day ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
1 Day ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
1 Day ago