Sources today told Credit Union Times that the NCUA Board – meeting in Alexandria, Va. – is expected to consider and approve the merger of Nashville, Tenn.-based Volunteer Corporate Credit Union (VolCorp) with Parkersburg, W.Va.-based West Virginia Corporate Federal Credit Union.
Their merger plans were initially reported in May 2011.
Along the way, the proposed merger won “overwhelming” approval by VolCorp members, as well as approval by the Tennessee Department of Financial Institutions.
Sources indicated that combined assets after the merger (if approved) will be approximately $1.4 billion with 335 members.
Following NCUA approval (if issued) the next step would be a West Virginia Corporate FCU member vote scheduled for Monday.
