WASHINGTON-Though fewer credit union mergers occurred in 2005 than the previous year, the asset size of the merged institutions is growing. Callahan & Associates Senior Industry Analyst Tom Geggel reported on CreditUnions.com that while credit union mergers had fallen from 331 in 2004 to 302 in 2005, the assets are up. Total merged assets rose from $3.1 billion in 2004 to $3.5 billion last year. The average merged credit union was up to $11.7 million in assets in 2005, versus $9.3 million just the year before. The number of merged credit unions under $10 million in assets fell from 261 in 2004 to 241 in 2005 and those of institutions between $10 and $20 million dropped to 23 in 2005 from 39 the year before, according to Callahan. However, merged credit unions between $20 and $50 million were up slightly from 20 to 21 in 2005 and the merged credit unions over $50 million jumped from 11 in 2004 to 16 in 2005.
Callahan's Studies Merger Activity
Want the latest credit union news?
Sign up for our free newsletter today! All the breaking credit union news and information you need to make the right decision for your credit union delivered to your inbox. For free!
Thanks for subscribing, you will start receiving the Daily News Alert tomorrow!
- The 4 Major Designs of the $100 Bill (Slide Show)
- Anonymous May 7 Target List Includes 12 Large Credit Unions
- Theresa Portillo Sentenced to 6½ Years in Prison for Looting Feminist CU
- WesCorp’s Legacy Losses Outpace Other Corporates
- Stacie Wyss-Schoenborn Seeks Innovation One Step at a Time: Women to Watch