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.
Member vote for merger with NuVision said not expected until at least mid-2013.
An unusual three-way merger in Columbus, Ohio is taking shape as the three credit unions, Western CU, Powerco and Members First, form a $170 million consortium.
The chairman of the $63 million Montana First Credit Union, whose members three weeks ago shot down a merger bid from an out-of-state suitor, said Friday that his credit union plans to try again.
Sources tell Credit Union Times that approval expected from NCUA Board, with West Virginia Corporate vote set for next week.
In a rare case of reversals, two proposed credit union mergers–one an interstate pact in the Northwest and the other involving Louisiana CUs–were called off last week as a result of member opposition.
An Ohio merger deal, years in the making, is providing a retirement honor and sendoff for a 38-year industry veteran, Tom Furrey, the president/CEO of the $65 million Western CU.
CEO of suburban New Orleans CU says "we'd like to get another shot" at merging with Baton Rouge's Main Street Financial.
Challenge possible at Thursday vote for merger between Spokane Valley and Missoula credit unions.