The $28.5 million Lutheran Credit Union of America in Brea, Calif., had been struggling financially, records show.
During the first half of 2013, the NCUA approved 132 credit union mergers, up from 114 mergers approved as of June 30 last year, according to the NCUA’s Insurance Report of Activity.
Rivers Edge Community consolidation into Co-op Services would create half-billion dollar institution with more than 61,000 members,
HeritageWest will be name of combined entities Virginia credit union acquired in 2010 and 2011.
Thousand-member Burley, Idaho, credit union consolidated into the $136 million Idaho State University FCU in Pocatello.
Roanoke, Va., consolidation follows years of financial struggle for small institution.
If the world is cold, make it your business to build fires, said Horace Traubel. Translation: If your industry is consolidating, make it your business to consolidate. At the moment you may think you have approximately 6,500 possible consolidation partners. However, now is the time to consider a cross-industry transaction...
The NCUA approved 18 completed credit union mergers in June, compared to 15 completed mergers approved in June 2012, the agency said last week.
The credit unions, based in Roseville, Mich., serve residents in Macomb County in suburban Detroit as well as local churches.
In the first half of this year, there have been 132 mergers, surpassing the 114 mergers during the first half of 2012.