Small credit unions say they've experienced big noninterest income gains after launching relatively traditional services such as courtesy pay and gap coverage on auto loans. Our experts say larger credit unions should consider noninterest income opportunities in mergers and acquisitions, and debit rewards programs.
Market developments and new regulations are challenging credit unions to find new sources of noninterest income in order to grow. While it can be difficult to thrive or even survive in an unstable environment, change also brings opportunity. One option for credit unions is using strategic mergers and acquisitions. The...
The NCUA approved 19 mergers in December, bringing 2014's total number of consolidations to 262, which was considerably higher than the 243 mergers in 2013 and slightly higher than the 258 consolidations in 2012.
Kaufman & Canoles lawyers highlight which areas will undergo significant changes this year.
The Alexandria, Va.-based credit union brings in $963M last year to boost assets to $17.8B.
As November comes to an end, a dozen merger deals were announced or completed in 12 states.
Several credit unions plan to finalize their consolidation plans this quarter and early next year.
Collaborations can help credit unions, regardless of asset sizes, keep up with rapid industry changes.
Mergers have been steady since 2006 but costs varied over the past few decades.
Read the latest in merger news and best practices in this Focus Report.