Three credit unions that received approval to merge because of their poor financial condition were:

The $8.4 million Branch 6000 NALC Credit Union in Amityville, N.Y., into the $83.4 million Consumer Federal Credit Union in Brooklyn, N.Y.
The $21.1 million Harmony Federal Credit Union in Grand Junction, Colo., with the $92.5 million Grand Junction Credit Union, also based in Grand Junction.
The $38.7 million Montana Health Federal Credit Union in Billings, Mont., into the $280 million Intrepid Credit Union in Helena, Mont.

Three credit unions that received the greenlight to consolidate because of poor management were:

The $75.1 million Ecusta Credit Union in Pisgah Forest, N.C., into the $482 million Champion Credit Union in Canton, N.C.
The $2.7 million Muskegon Patternmakers Federal Credit Union in Muskegon Heights, Mich., with the $193 million Service 1 Credit Union in North Shores, Mich.
The $6 million Yonkers Postal Employees Credit Union in Yonkers, N.Y., into the $57.1 million Rockland Employees Federal Credit Union in Spring Valley, N.Y.

Two credit unions received the OK to consolidate because of their "inability to find officials":

The $30.3 million Freedom Community Credit Union in Fargo, N.D., with the $94.7 million United Savings Credit Union also based in Fargo.
The $6.6 million Kankakee Terminal Belt Credit Union in Kankakee, Ill., into the $1.6 billion Credit Union 1 in Rantoul, Ill.

Because of its lack of sponsor support, the $2.4 million Trouvaille Federal Credit Union in Philadelphia received approval to merge with the $4.6 billion American Heritage Federal Credit Union, also based in Philadelphia.

Instant Insights /

NCUA Approves 39 Mergers During the Third Quarter

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