SHREWSBURY, N.J. — There is no denying the ongoing consolidation trend in the credit union industry, but is it a welcome or unwelcome trend for the future of credit unions?
Consolidation is most evident among natural person credit unions. In the first quarter of this year NCUA approved 62 credit union mergers. There has also been consolidation on the corporate network (four mergers currently pending), league and vendor levels.
In many mergers, the oft-touted economies of scale is still pointed to as the main benefit. Some critics note however the higher operating expenses in some notable past mergers as proof that mergers aren't always good.
This is the subject of Credit Union Times'latest online voting poll. The question is as follows:
Is consolidation good for the credit union industry?
o Yes
o No
o Not Sure
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