Having won NCUA approval, the $1.7 billion Chevron Federal Credit Union of Oakland, Calif., said it is merging with the $175 million Spectrum FCU of San Francisco in a deal set for final completion this September following a March 28 member vote.
Members of 5,100-member Atlanta credit union approved merger with $2 billion Atlanta Postal CU on Feb. 28; consolidation expected by June 30.
Two northern Nevada credit unions are merging to form a $114 million co-op.
In a pre-Presidents Day transaction, Connexus has won member approval to merge Maple Hill Credit Union and is looking to consolidate a second Wisconsin CU.
Next step is raising capital, vote from current Southeast Corporate members.
In this Print Preview from next week's edition, industry experts look behind the recent rejection of proposed mergers in Louisiana and Montana.
Jefferson Financial CU CEO expects another vote from Main Street Financial members in late 2012 or early 2013.
Combined corporate claims more than 800 member credit unions and $163 million in capital.
California’s $3.1 billion Kinecta Federal Credit Union, party to a delayed mega-merger with the $1.1 billion NuVision CU, is in recovery mode this month, tending to a battered mortgage portfolio.
The surviving corporate will be VolCorp, headquartered in Nashville, Tenn. An office will be maintained in Parkersburg, W.Va., as well.