The NCUA approved 23 mergers in 18 states in July, bringing thetotal number of approved mergers to 155 for 2013.

Four of July's mergers occurred in California and all but one ofthe credit unions had assets of less than $50 million, according tothe agency's monthly Insurance Activity Report.

Sixteen of the small credit unions merged with largercounterparts to expand services to members, while only one mergedbecause it was in poor financial condition and two consolidated dueto the “inability to obtain officials” or were unable to find a newCEO, according to the NCUA report.

One credit union merged because it lost its sponsor, oneconsolidated due to lost or declining membership, one mergedbecause of lack of growth and one consolidated with astate-chartered credit union, the report said.

The $7.3 million Delta Wye FCU in Dorchester, Mass., whichmerged citing poor financial condition, posted a net worth of only2.60% in 2012 and 3.06% on June 30, according to NCUA financialperformance reports.

The credit union, which was chartered in 1961 by the ElectricalWorkers Local 103 and served 1,789 members, consolidated with the$85.6 million River Works CU in Lynn, Mass.

Over the past five years, Delta Wye had seen a gradual declinein its loan and investment income, though it posted slightincreases in its fee income. The credit union's loan income hadfallen from $291,750 in 2008 to $257,035 in 2012, while investmentincome dropped from $132,993 in 2012 to $44,217 in 2008, accordingto NCUA financial performance reports. Over the past three years,the credit union posted total net income losses of more than$427,000.

One of the smallest credit unions to merge was the $1.4 millionAngelus Can Employees FCU in Los Angeles, after its corporatesponsor shut down the Pneumatic Scale Angelus plant in November2012, laying off 111 steel workers and shipping those jobs to afactory in Ohio, according to the Los Angeles Times.

Though the plant has been running since 1910, the credit unionwasn't chartered until 1963 and served only 226 members when itconsolidated with the $407 million VonsEmployees FCU in El Monte, Calif.

Another very small credit union, the $2.8 million Harper &Row, Keystone Employees FCU in Throop, Pa., merged because it wasseeing its membership dwindle for more than 10 years. In December2002, the credit union was serving 1,282 members. By June 30 ofthis year, it had only 832 members, according to Callahan &Associates.

The $3.5 million Lima Ohio Postal Employees FCU in Lima, Ohio,cited lack of growth for its reason to merge with the $27 millionTopmark FCU also in Lima.

In nearly all of the Lima Ohio Postal Employees FCU's financialperformance numbers were below peer averages, including loan yield,return on average assets, non-interest income and net margin,though its cost of funds and operating expenses were lower thanpeer averages, according to NCUA financial performance reports.Chartered in 1936, the credit union served only 504 members.

Other mergers included the $56 million Security One FCU in Arlington, Texas, into the $763 millionTexas Trust CU in Mansfield, Texas; the $42 million Carepoint FCUin Anaheim, Calif., into the $807 million Financial Partners CU inDowney, Calif.; the $40.6 million NEO FCU in Miami, Okla., into the$1.3 billion TTCU Credit Union in Tulsa, Okla., the $31 millionFort Bragg Community FCU in Fort Bragg, Calif., into the $135million Mendo Lake CU in Ukiah, Calif.; and the $20 millionKilowatt CU of Madison, Wis., into the $195 million Heartland CU inMadison, Wis.