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The concerns expressed by the industry's trades and leagues on the impact of hostile takeovers among credit unions may be for naught, one veteran attorney said.

The New Jersey Credit Union League said Thursday it has formed a five-member search committee headed by Cindy Rein-Zima, president/CEO of Hamilton Horizons FCU, to begin recruitmen to find the replacement for fired CEO Bob Walls.

New York State Senator Thomas Morahan (R-38th) introduced a bill last week calling for the taxation of federal credit unions in New York.

When it comes to promoting youth savings, the $205 million Yakima Valley CU is certain to be this month's winner opening a whopping 925 start-up accounts with a $25 free deposit during a 19-day period.

After the roller coaster of negotiations that led to many sleepless nights, Paula Edwards-Noice, former president/CEO of the now defunct Nationwide Federal Credit Union, does not have any doubts that the merger finalized this year with Nationwide Bank was the right move to make.

There is no denying the ongoing consolidation trend in the credit union industry, but is it a welcome or unwelcome trend for the future of credit unions?