Growth Strategies

The total number of approved consolidations for 2018 is 192, down from the 200 mergers approved in 2017 and 2016.

The deal represents the third bank purchase by a Florida credit union in less than two months.

The merger creates the eighth largest credit union by assets in the Bay State.

The median overdraft price at financial institutions that have at least $25 billion in assets is $35.

CU experts believe growing deposits in 2019 will be difficult. "The level of competition on deposit rates and lack of growth will be a challenge to grow."

The acquisition is expected to expand the Florida credit union's business loans, deposits and market share.