Marking its first merger in three years, the $1.7 billion Redwood Credit Union of Santa Rosa, Calif. is taking over the ailing $90 million Cal State Central CU effective April 1.
After he read the recent statements issued by NCUA, Dave Chatfield said there is just one conclusion: the regulator intends to block mergers of Tier One corporates.
NCUA-conserved WesCorp, now known as Western Bridge Corporate FCU, is following in the footsteps of its peer, Southwest Bridge FCU of Dallas, in forming a CEO-run advisory panel to help chart its next step.
The merger rhetoric on bridge corporates continued to percolate Monday with David Chatfield, the new head of a West Coast task force on the subject, suggesting three already conserved corporates be consolidated.
The California and Nevada Credit Union Leagues announced today they will provide staff support for a newly created Corporate Realignment Task Force.
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