NCUA Unveils Merger Registry
The NCUA informed credit unions that its merger partner registry is up and running and credit unions can register for it online.
The registry, which was created following complaints from the trade associations that credit unions wanting to be considered for assisted mergers and purchase and assumptions weren't being given proper consideration by the agency.
NCUA Chairman Debbie Matz wrote that the registry will establish a wider pool of interested credit unions and "improve transparency by shedding more light on NCUA's process of selecting partners.''
She noted that the selection process is "very involved,'' and the agency often "asks dozens and dozens'' of credit unions before finding a suitable partner.
Matz's letter, which includes directions for accessing the registry, is available on the NCUA's website.