ALEXANDRIA, Va.-November 2004 saw 38 credit union mergers, the most in at least the last three years, according to NCUA’s Insurance Report of Activity in that time period. Of the 38 mergers, 29 of the merged credit unions were under $10 million in assets. Nine were under $1 million, November 2004′s report showed. On a brighter side, two new credit unions were chartered. Kappa Alpha Psi Federal Credit Union was established in Dallas, Texas with 15,700 potential members. Additionally, Star Credit Union formed in Madison, Wis. serving 1,000 potential members. Federal credit unions continued to take in large underserved areas in November. The largest underserved area granted was to Sunwest Federal Credit Union in Phoenix for the city of Tucson, Ariz., population 507,658. Other areas included 288,981 potential members for Ouachita Valley Federal Credit Union and two underserved areas totaling 285,382 for LA DOTD Federal Credit Union in Baton Rouge, La. As the airline industry continues to suffer following 9/11 and the subsequent security issues, yet another airline credit union, Continental Federal Credit Union, sought refuge in the TIP-trade, industry, profession-charter. The $187 million credit union in El Segundo, Calif. had more than 84,000 members at the time of conversion. Large community charter conversions also continued to be approved at the regional level. Dallas Telco Federal Credit Union was given a community charter serving over 2.2 million, while New Cumberland Federal Credit Union received a community charter for more than 1.1 million.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.