Anyone who thinks U.S. credit unions have only two shared branching networks from which to choose has never met Scott Collins.
Fraudulent activity covered up by top leadership and a failure by NCUA examiners to adequately follow up on red flags caused the failure of St. Paul Croatian FCU, according to a report by the NCUA's Office of Inspector General.
In separate deals, California and Michigan credit unions completed mergers on the same day- Oct. 4.
The $364 million First City Credit Union of Los Angeles is merging the $91 million Focus One Community CU of Monrovia effective next Monday.
The mergers last week of two medium-sized-and healthy-credit unions, one in Wisconsin and one in Colorado,
The $90 million Colorado Credit Union of Littleton expects to complete the merger and computer conversion of the nearby $12 million Brighton FCU this weekend.