August 24, 2014

NCUA approves 123 mergers in first half

July 28, 2014 – NCUA has approved 123 mergers in the first six months of 2014, according to the agency's monthly Insurance Report of Activity reports.

Data for 2013 show NCUA approved 133 mergers in the first half of 2013, so the rate this year has slightly decreased.

Credit Union Times reported that 20 mergers were approved in June, and all but three of the consolidating credit unions managed less than $50 million in assets. Twelve merged for expanded services, three for loss or declining field of membership, two for poor finances, two for a lack of sponsors and one for management issues.

CU Times noted 114 mergers were approved in the first six months of 2012.