The $1.9 billion Chartway Federal Credit Union in Virginia Beach, Va. announced Aug. 13 it will consolidate two previously merged Utah-based credit unions effective Oct. 1. The two credit unions–HeritageWest and Utah Central–are both located in the greater Salt Lake City area and were merged into Chartway in 2010 and...
Merged credit unions will maintain their individual brands.
Combination would be followed by retirement of longtime ICCU President/CEO Mark Heth.
The $18.8 million Warren M.S.D. Federal Credit Union of Indianapolis has merged into the $1.4 billion Indiana Members Credit Union.
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.