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.
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.