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NCUA lobby Lobby of the NCUA.

The pace of consolidations picked up during the second quarter as the NCUA approved 41 mergers compared to 25 mergers approved in the second quarter of 2020, and 33 during the first quarter of 2021.

However, 17 or 40% of the second quarter’s 41 credit unions consolidated because of poor financial condition (8), loss of sponsor support (4), declining or loss of membership (2), lack of growth (2), and inability to obtain officials (1).

Peter Strozniak

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