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.