The Florida Office of Financial Regulation in Tallahassee isreviewing an application for a merger between the $899,986 MacNeill Employees Credit Union in Sunrise, Fla., and the $77 millionPriority One Credit Union also based in Sunrise.
|If approved by regulators, Mac Neill Employees CU would mergeinto Priority One CU, the first consolidation for 2013 in theSunshine State, according to NCUA records.
|Though Mac Neill Employees CU has a net worth/total assets ratioof 29.35, its loan and investment revenues have been steadilydeclining since 2008, and its fee income has been flat, accordingto NCUA financial performance reports. The credit union's netincome also has fallen from $12,191 in 2009 to $4,709 in 2012.
|Mac Neill Employees CU's membership also has declined from 257in March 2008 to 165 in March 2013, according to Callahan &Associates.
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