Credit union mergers have slowed so far this year, but industry experts expect the consolidation pace to pick up over the next five years. According to their calculations, that could reduce today’s credit union count from 6,100 to just 4,000 by 2020.

From January to September 2015, the NCUA approved 178 mergers, which represents a fall from the 193 approved consolidations that took place from January to September 2014, and the 190 consolidations during the first three quarters of 2013. What’s more, the NCUA’s recently released approved mergers for October 2015 show only 19 consolidations were given the green light compared to 28 in October 2014 and 24 in October 2013.

Peter Strozniak

 

Credit Union Times

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