Big Mergers Rule The Day, Or Month
ALEXANDRIA, Va. – NCUA said it approved 30 credit union mergers in May, many of them combining two large credit unions. Georgia Telco FCU, ($986 million) joined the billion-dollar club with the acquisition of Hapeville (Georgia) Auto Employees FCU ($21 million). In addition; KeyPoint FCU, Santa Clara, Calif. ($670 million) was approved to merge with West One FCU, Livermore, Calif. ($75 million); Kemba Financial CU, Columbus, Ohio ($310 million) with Core One CU, Columbus ($135 million); and RTN FCU, Waltham, Mass. ($385 million) with Unified FCU, Peabody, Mass. ($160 million). Also, Self-Help CU, Durham, N.C., the nation’s largest community development credit union, was cleared to acquire Cape Fear FCU, in nearby Wilmington, N.C. ($12 million).