The NCUA's November insurance fund activity report reveals theregulator approved 23 mergers, including three prompted by poorfinancial condition, and three more experiencing a lack of growthor lack of sponsor support.

In Texas, the $39 million Fort Worth Telco CU reported a netloss of nearly -$72,000 as of Sept. 30, 2012, and hasn't seen 7%net worth since Dec. 2009. It will merge into the $1.45 EECU, also of Fort Worth.

The $15 million Appalachian FCU of Berea, Ky., will be mergedinto the $155 million Appalachian Community FCU in Kingsport, Tenn.The merging credit union reported 3.39% net worth as of Sept. 30,2012 and nearly 14% delinquent to total loans.

The $8 million East Coast CU of Wilmington, N.C., will be mergedinto the $221 million Piedmont Advantage Credit Union of Winston-Salem, N.C. The merging credit union just slipped below 7% net worth in Sept.2012 after posting a $160,000 net loss fueled by a $122,000 loanloss provision.

The $335 million Newport News Neighborhood FCU of Newport News,Va., reported a lack of sponsor support drove it to merge into the$1.7 billion Langley FCU, also of Newport News. Thecommunity-chartered credit union, which served those who work orreside in the city, reported strong net worth and ROAA, butproblems with lack of loan and membership growth: as of Sept. 30,NNNFCU reported a 23.31% annualized loss of membership.

The $19 million Washington Postal Employees FCU of Washington,D.C., and the $1.3 million Steel Crete Employees FCU of BeechBottom, W.Va., both reported lack of growth as their reason to seekmergers. They will be absorbed by the $315 million FedChoice FCU ofLanham, Md., and the $18.6 million Tin Mill Employees FCU ofWeirton, W.Va., respectively.

The $3 million Canadian National Railway Employees FCU of Terry,Miss., will be merged into the $1.1 billion Magnolia FCU ofJackson, Miss., due to an inability to obtain financials, the NCUAsaid.

Other mergers of note include two in California: the $55.7million Safeway Los Angeles FCU of Norwalk, which will merge intothe $750 million Xceed Financial FCU in El Segundo, and the $72.5million State Center CU of Fresno, which will merge into the $414million Valley First CU of Modesto