PITTSBURGH — Those megabank mergers, like PNC Financial of Philadelphia acquiring troubled National City Corp of Cleveland, are again providing a batch of new business for credit unions this week.

“We've already seen four or five business lending accounts come to us because borrowers decided they would rather deal with a credit union,” said Mark S. Brennan, president/CEO of the $648 million Clearview FCU, who like other CU leaders have expressed delight at the heightened interest by the public in CUs.

Brennan said he has seen a shifting of deposit business to Clearview following last week's regulator-engineered merger of National City into PNC.

Like other CEOs, Brennan acknowledged the upheaval in financial markets taking place as a result of the mergers with PNC Financial now the formidable institution in both Cleveland and Pittsburgh. Underscoring that concentration, it was reported that PNC Financial now controls 50% of banking assets in both Pittsburgh and Cleveland.

Brennan also noted that Pennsylvania CUs continue to enjoy favorable press coverage on both a local and national scale and are reaping new walk-in business.

“And let me tell you the timing of the 'iBelong' awareness campaign couldn't have been better in making the public appreciate our role as an institution of stability and security,” said Brennan making reference to an ongoing ad campaign of the Pennsylvania Credit Union Association.