The merger will leave NuVision with 14 branches, $1.3 billion in assets and 87,000 members throughout Los Angeles and Orange counties.
League, credit union CEOs, board members studying NCUA's proposal to charge fees to examine, allow derivatives use.
A few weeks after its merger plans were scuttled, the $3.1 billion Kinecta Federal Credit Union in Manhattan Beach, Calif., has named Keith Sultemeier as its president/CEO.
Security Service EVP Keith Sultemeier named new CEO at Kinecta as Roger Ballard gives up dual role for return to NuVision.
As the $3.1 billion Kinecta FCU and the $1.1 billion NuVision called off their planned merger, their joint CEO expressed optimism for both.
The $3.1 billion Kinecta Federal Credit Union and the $1.1 billion NuVision CU on Thursday called off what would have been the nation’s second-largest merger of credit unions.
California’s $3.1 billion Kinecta Federal Credit Union, party to a delayed mega-merger with the $1.1 billion NuVision CU, is in recovery mode this month, tending to a battered mortgage portfolio.
Kinecta-NuVision merger delayed while three-way Ohio merger moved forward; each with a CEO in charge of two credit unions at once.
Member vote for merger with NuVision said not expected until at least mid-2013.
The nation’s second largest mega-merger, that of the $4.7 billion California pairing of Kinecta FCU and NuVision FCU, moved a step closer this month with a formal application filed with the NCUA.