Callahan's Studies Merger Activity
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.