SCHENECTADY, N.Y. — Large-scale credit union mergers and the prospect of more CUs being acquired by expansion-minded banks head the priority list of volunteer worries these days, according to two top CU chairmen involved in leadership of the National Association of Credit Union Chairmen.

Speaking out prior to NACUC's annual conference meeting in Williamsburg, Va. Oct. 17-19, the trade group's chairman, Chuck Smith, said he and other directors remain concerned about “this new phenomenon of big credit unions merging with like size credit unions” across the U.S.

The ongoing trend of small CUs being merged into larger institutions is much more common, but “these new developments raise many new issues” about CUs' economic role. “How are we as volunteers planning to deal with this trend?” asked Smith, who also is chairman of the $191 million First New York Federal Credit Union.

Similar comments with a focus on the outlook of banks possibly acquiring CUs were voiced by David Gilbert, the former secretary of NAFCU and chairman of Aberdeen Proving Ground Federal Credit Union in Maryland, who said volunteers “need to be well educated to these kinds of insidious attempts by banks” to acquire CUs.