The NCUA on Thursday approved a request to merge the $1.37 billion Central Corporate CU into the $1.4 billion Alloya Corporate FCU.

Alloya CEO Chuck Furbee made the announcement in a letter to members posted on the Warrenville, Ill., corporate's website.

Regulator approval is just one step in the process; CenCorp members still have to vote to approve the deal. 

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