The $3.1 billion Kinecta Federal Credit Union and the $1.1billion NuVision CU have called off what would have been thenation's second-largest merger of credit unions.
In a statement Thursday, the two blamed the lengthy, future timeframe and its disruption of the business cycle as the reason forcalling off the merger first announced two years ago and oncedescribed as a model for future consolidation of large CUsparticularly on the West Coast.
The statement said Roger Ballard will continue as joint CEO ofboth California credit unions while Kinecta conducts a CEO searchand puts a transition plan in place.
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