The NCUA approved 18 mergers across 14 states in September, bringing the total number of consolidations to 190 so far this year, according to the agency’s monthly Insurance Activity Report.
Agency says 190 so far this year among federally insured credit unions.
Members of the $83 million Utah credit union approved consolidation with $2.2 billion California counterpart.
Declining deposits and loans, stagnant membership growth and insufficient resources to invest in new technologies has led the board of directors of the $85 million Chevron West Credit Union in Bountiful, Utah, to unanimously approve a merger agreement with the $2.2 billion Chevron Federal Credit Union in Oakland, Calif.
$85 million Utah credit union says merger forced by declining deposits, stagnant membership growth, technology demands.
ALEXANDRIA, Va. — The NCUA’s proposed derivatives rule includes a possible fee structure for credit unions applying for and using the authority that could discourage them, say those involved with the regulator’s pilot program. And one credit union chief financial officer said she won’t apply if the final rule includes...
An old Chevron sign was preserved and presented to its original owner during a grand opening for a new branch of American Heritage FCU in suburban Philadelphia.
CUSO signs multi-year deal with gas station video screen network that can place targeted CU messages on screens across the country.
Having won NCUA approval, the $1.7 billion Chevron Federal Credit Union of Oakland, Calif., said it is merging with the $175 million Spectrum FCU of San Francisco in a deal set for final completion this September following a March 28 member vote.
Talks between the two Bay Area CUs have been ongoing for nearly a year and came to fruition last October, sources said.