Credit Union and Bank Mergers

Our Position

We strongly reject banker propaganda littered with inaccuracies and misrepresented facts regarding credit union and bank mergers.

NAFCU consistently educates Congress on the facts: bank-credit union mergers are voluntary, market-based transactions that require a community bank’s board of directors to vote on merging with a credit union. Unlike what bankers suggest, these are not ‘hostile’ takeovers; the bank is the one that ultimately makes the decision to sell to, and merge with, a credit union. In many instances, a bank must choose between merging with a credit union to sustain a trusted local financial institution for their community or closing their doors completely and leaving a gap in banking services. A merger means that the branch remains open, retaining property taxes, payroll taxes, and economic income generated by keeping jobs in the community.