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Since January 2008, there has been a credit union merger every 1.5 days and beginning in 2013, this rate has increased to one every 1.3 days.

While on the surface these numbers might indicate a strengthening of the industry, the fact is most of these mergers are generally the result of failed or failing credit unions of less than $25 million in total assets and the completed mergers did little to significantly increase or strengthen the industry as a whole.

Since the fiscal crisis and subsequent bank failures beginning with the recession of 2007, credit unions have done an extremely good job of building a stronger membership base and increasing deposits as more people have moved away from other financial institutions. However, if credit unions are going to continue being competitive, they will have to face the challenge of other financial institutions trying to take their market share back. The immediate growth that comes from the merger of two already strong credit unions is one way to make this happen.

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