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.
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.