Another Corporate Merger In TheWorks
METAIRIE, La. - (02/20/06) -- The corporate network continued tocontract lastw week with another merger announced, this one betweenLouisiana Corporate CU and Corporate America CU. The combinationwill create a corporate with about $1.3 billion in assets andserving more than 300 natural person credit unions. Uner the plans,Corporate America CU will be the surviving entity and LouisianaCorporate CU would continue to operate as a branch of the Irondale,Ala.-based corporate. At least two other corporate nmergers arealready in process: Western Corporate FCU (WesCorp) with VolunteerCorporate FCU (VolCorp); and Empire Corporate FCU with Mid-StateCorporate FCU. The merger of the Louisiana and Alabama corporateswill leave 27 surviving corporates of a network that included 44corporates, not including U.S. Central CU, a decade ago.