ALEXANDRIA, Va. – At this point, the month of April had the fewest credit union mergers this year, according to NCUA's monthly Insurance Report of Activity.
Fifteen mergers took place in April with 10 of them including credit unions under $10 million in assets. The largest merging credit union was Gateway CU ($179 million), which is merging with $713 million Westerra CU.
In the face of lawsuits brought by the American Bankers Association challenging NCUA's determination of community charters and the adoption of underserved areas by non-multiple common bond credit unions, credit unions continued to pursue these methods of expansion. Four credit unions converted to community charters, including $38 million Auto Workers FCU in West Mifflin, Pa., for 1.5 million potential members and Pittsburgh Central FCU for 1.6 million potential members. Additionally, 11 applications were deferred.
Recommended For You
At the same time, 10 underserved areas were adopted by nine credit unions, adding more than three million new potential members. The largest of these was Sun East FCU's adoption of Philadelphia with 1.5 million potential members. Los Angeles Times FCU adopted parts of L.A. with a population of 594,812.
In addition, three TIPs were approved and two deferred.
U.S. First FCU in San Mateo, Calif. converted to a state charter, bringing with it its $120 million in assets.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
