Discussion on The Latest Merger and Acquisition Trends

About the Podcast

Mark Sievewright of Sievewright & Associates (An SRM Company) will chat with NAFCU Services CU Lab on the latest opportunities and challenges related to mergers and acquisitions for credit unions and what he expects for the remainder of 2023.

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Key Takeaways:

  • [01:31] When we think about the merger landscape it is everything, everywhere all at once. We are seeing mergers continuing of smaller credit unions into larger ones. We now have mergers of peers really emerging quickly. 
  • [02:01] We just had a record year in 2022 in terms of the credit union commitments or stated commitments to buy banks. 
  • [02:45] Last year was larger in credit union mergers than the year before and the year before that. The pace isn’t really slowing. 
  • [03:55] We are going to continue to see consolidation accelerate.  
  • [06:58] Board seats are the new capital. Board members for the most part are volunteers and care very deeply about the legacy and the heritage they have created. 
  • [07:30] There is a board composition integration challenge with some mergers. Sometimes we see leadership team challenges as well. For the most part, the integration challenges revolve around technology and operations. 
  • [08:07] Those kinds of integration challenges (technology and operations) really come to the fore very quickly in merger discussions. 
  • [11:46] NAFCU and the NCUA have a wealth of merger-related resources available to help credit unions navigate the process.

Presented By

Mark Sievewright
Mark Sievewright

Mark Sievewright - Sievewright & Associates, an SRM Company - Founder & CEO

Mark is a recognized financial services thought leader with a unique understanding of and insights into the digital banking and payment services markets. He is the Lead Subject Matter Expert for CUNA’s newly established Digital Transformation Task Force. He has led strategic planning and technology evaluation projects for Credit Unions ranging from $500M to $50 Billion in assets.

Mark has held senior leadership positions at HSBC, MasterCard International, Payment Systems Inc., TowerGroup, and Fiserv. In 2017, Mark established Sievewright & Associates (now an SRM company) with a focus on providing credit unions with valuable strategic insights and trusted technology guidance to drive their business growth and member experience initiatives. He is a published author and recipient of several industry awards.