More than 20 credit unions either announced or completed mergers during the summer season.

Right before the Labor Day weekend, the unofficial final weekend of the summer, credit unions in California, Massachusetts and Wisconsin announced merger completions.

On Aug. 31, the $323 million Sun Community Federal Credit Union in El Centro, Calif. completed its merger with the $13.1 million Palm Springs Federal Credit Union in Palm Springs, Calif.

Dale Johnson, president/CEO of Sun Community FCU, will remain as the chief executive of the combined organizations. Debbie Pitigliano, president/CEO of Palm Springs FCU, will become the regional vice president of Sun Community.

The merger makes Sun Community FCU the largest cooperative in Imperial County.

Also on the last day of August, the $18 million IBEW Members+ Credit Union in Martinez, Calif. merged into the $896 million Engineers Local Credit Union #3 Federal Credit Union in Livermore, Calif.

In Massachusetts, the $8.1 million First Choice Credit Union in Methuen, Mass., officially merged into the $563 million Align Credit Union in Lowell on Sept. 1.

Also on the first day of September, the $120 million Community Credit Union of LaCrosse, Wis. merged into the $594 million Verve Credit Union in Oshkosh, Wis.

Kevin J. Ralofsky (pictured above) will continue as president/CEO of Verve CU, while Chris Butler (pictured at left), former president/CEO of Community CU, will serve as a regional president who will oversee the credit union's growth strategies on the west side of the state.

Verve CU now manages $714 million in assets, operates 14 branches and serves nearly 56,000 members.

The $6.5 million General Drivers Credit Union in Dubuque, Iowa, announced on August 17 that it plans to merge with the $104 million Alliant Credit Union also based in Dubuque.

After the merger is completed on Nov. 1, the General Drivers CU office will close and its staff will be relocated to other Alliant branches.

On August 12, members of the $20.7 million Pacific Northwest Credit Union in Bellingham, Wash., voted to approve a merger with the $194 million North Coast Credit Union, also in Bellingham. That consolidation is scheduled to close Oct. 1.

In Michigan, the $29 million Eastside Family Federal Credit Union in Eastpointe merged into the $667 million Community Choice Credit Union in Farmington Hills on Aug. 4.

This was Community Choice CU's second merger. In April, the $106 million NuPath Community Credit Union consolidated into Community Choice CU.

The $24 million Bell West Community Credit Union in Oak Lawn, Ill., finalized its merger into the $693 million Great Lakes Credit Union in Bannockburn, Ill. on Aug. 3.

On August 1, three cooperatives in Georgia, Iowa and North Carolina completed their consolidations.

In Georgia, the $21.8 million Etowah Valley Federal Credit Union in Cartersville merged into the $1 billion Georgia United Credit Union in Duluth; the $4 million Lehigh Valley Credit Union in Lehigh, Iowa consolidated with the $26.7 million Peoples Credit Union in Webster City, Iowa; and in North Carolina, the $16.5 million Oxford Credit Union in Oxford merged with the $180 million Summit Credit Union in Greensboro.

On July 31, the $392,999 Clements Federal Credit Union in Clements, Minn. merged into the $285 million SouthPoint Federal Credit Union in Sleepy Eye, Minn.

It was announced on July 7 that the $28.5 million Texas Catholic Community Credit Union in Dallas merged into the $2.6 billion Texas Dow Employees Credit Union in Lake Jackson, Texas. TDECU said the consolidation represented its entry into the Dallas/Fort Worth market.

On July 1, four credit unions in Wisconsin, New York, Massachusetts and Michigan finalized their mergers.

In Wisconsin, the $34 million RiverWood-Maritime Credit Union in Two Rivers merged into the $1 billion Fox Communities Credit Union in Appleton. In New York, the $1.3 million Kolmar N.Y. Employees Credit Union in Port Jervis consolidated into the $326 million Hudson Heritage Federal Credit Union in Middletown.

Additionally, in Massachusetts, the $50 million Seaport Credit Union in Salem merged with the $161 million St. Jean's Credit Union in Lynn, Mass., and in Michigan, the $1.4 million St. Patrick Credit Union in Croswell consolidated with the $397 million Security Credit Union in Flint.

In June, the $44.7 million Kent Credit Union in Kent, Ohio, announced it planned to merge with the $854 million Seven Seventeen Credit Union in Warren, Ohio. That consolidation is expected to be completed Nov. 1.

Also in June, California state regulators approved the merger of the $12.2 million Newport Beach City Employees Federal Credit Union in Newport Beach with the $982 million Credit Union of Southern California in Anaheim.

California regulators also approved the merger of the $75.4 million SD Medical Federal Credit Union in San Diego and the $7.6 million Southland Savings Federal Credit Union in Buena Park into the $1 billion Financial Partners Credit Union in Downey.

Instant Insights /

Summer Ends With More Than 20 Mergers

Related Stories

Recommended For You