Search
 
News

NCUA Approves 34 Mergers in the Third Quarter

Consolidations are substantially down from last year’s third quarter; in the fourth quarter so far, four CUs complete mergers.

person signing merger documents Source: Shutterstock.

The NCUA approved 34 mergers in the third quarter, which was substantially down from the 50 consolidations approved at the end of last year’s third quarter.

Starting off early in the fourth quarter, four credit unions in South Carolina, Ohio and New York have recently announced the approval or completion of consolidation agreements. According to the NCUA as of Wednesday, at least 24 credit unions were scheduled to hold membership meetings in November and December to consider proposed mergers, including one of the largest deals of the year. On Dec. 28, members of the $1.5 billion Firefly Federal Credit Union will vote on whether to merge with the $1.7 billion TruStone Financial Federal Credit Union, which will create Minnesota’s second largest financial cooperative

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Peter Strozniak

Dig Deeper

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.