The sample seven bank deals involved $3.8 billion in bank assets as of Dec. 31, which would have boosted the credit unions’ assets by 14% if the purchases had closed on that date. The deals were:

Arizona Financial Credit Union of Phoenix ($3.4 billion in assets, 170,495 members), which bought Horizon Community Bank of Lake Havasu City, Ariz., 200 miles west of Phoenix. The bank’s $539.5 million in assets on Dec 31, 2021 would have boosted the credit union’s assets by 19.4% on that date.
Avadian Credit Union of Birmingham, Ala. ($1.4 billion in assets, 97,051 members), which bought Citizens State Bank of Vernon, Ala. The bank’s $88.8 million in assets boosted the credit union’s assets by 8%.
DFCU Financial Credit Union of Dearborn, Mich. ($6.7 billion in assets, 241,139 members), which bought First Citrus Bank of Tampa, Fla. The bank’s $659.7 million in assets boosted the credit union’s assets by 10.2%.
FAIRWINDS of Orlando, Fla. ($4.7 billion in assets, 233470 members), which bought Citizens Bank of Florida of near Orlando, Fla. The bank’s $569.2 million in assets boosted the credit union’s assets by 14.1%.
Georgia’s Own Credit Union of Atlanta ($4.2 billion in assets, 240,428 members), which bought Vinings Bank of Atlanta. The bank’s $685.6 million in assets boosted the credit union’s assets by 20.1%.
Royal Credit Union of Eau Claire, Wis. ($5.3 billion in assets, 321,219 members), which bought Lake Area Bank of Lindstrom, Minn., 40 miles northeast of Minneapolis. The bank’s $423.6 million in assets boosted the credit union’s assets by 10.5%.
Summit Credit Union of Madison, Wis. ($7.5 billion in assets, 266,382 members), which bought Commerce State Bank of West Bend, Wis., 40 miles north of Milwaukee, for $14.2 million. The bank’s $837.1 million in assets boosted the credit union’s assets by 17.3%.

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What Are Credit Unions Gaining From Bank Purchases?

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