WESTMINSTER, Colo. — The $28 billion WesCorp, San Dimas, Calif. and the $4 billion SunCorp located here announced merger plans today.

SunCorp CEO Tom Graham told Credit Union Times that SunCorp evaluated a number of scenarios to survive and thrive in the future. For example, the corporate analyzed making more mergers and even selling parts of its business to become more efficient. SunCorp is no stranger to mergers. It completed two successful ones very close together with the corporates in Nebraska and Utah, but Graham said given the recent corporate consolidation, intense competition, and overall economies of scale a merger with WesCorp made the most sense.

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