NCUA Approves 30 Mergers in May

ALEXANDRIA, Va.-While NCUA gave the nod to 30 credit union mergers during the month of May, it also approved the adoption of 25 underserved areas and 12 community conversions. The majority, 18, of the credit union mergers that went through were of credit unions between $1 million and $10 million. Another six were under $1 million in assets. NCUA also added nearly 4 million potential credit union members through underserved areas in May. The agency permitted 21 credit unions to adopt 25 communities, including $162.2 million Department of Commerce Federal Credit Union in Washington, D.C., which adopted the previously approved city, reaching 571,822 potential members. Sun Federal Credit Union in Oregon, Ohio adopted three underserved counties in Pennsylvania for nearly half a million potential members. NCUA also approved $218 million Golden Bay Federal Credit Union to serve the 1.7 million residents of Santa Clara County, Calif. United San Antonio Federal Credit Union expanded its community charter to include 1.5 million new potential members in Bexar County, Texas. In addition, tiny $1.1 million North Mississippi Methodist Credit Union decided a federal charter was the way for it to go and received NCUA approval to convert. A TIP serving the police protection industry in Nassau County, N.Y. was approved for $304 million N C P D Federal Credit Union.