Credit unions in Utah and Massachusetts announced merger agreements that are expected to be completed in the first quarter of next year.
The $74.8 million Heath Care Credit Union in Salt Lake City, Utah will merge into the $1.1 billion Goldenwest Credit Union in Ogden, Utah. In Massachusetts, the $47.3 million Hingham Federal Credit Union in Hingham agreed to consolidate with the $657 million Liberty Bay Credit Union in Braintree.
Though Health Care posted a 12.95% net worth at the end of the second quarter, higher than the peer average of 11.42%, its ROAA was -0.03% below the peer average of 0.43%, according to NCUA financial performance reports.
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