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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

Peter Strozniak

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