Big Mergers Rule The Day, OrMonth

Register now

ALEXANDRIA, Va. - (07/14/06) – NCUA said it approved 30 creditunion mergers in May, many of them combining two large creditunions. Georgia Telco FCU, ($986 million) joined the billion-dollarclub with the acquisition of Hapeville (Georgia) Auto Employees FCU($21 million). In addition; KeyPoint FCU, Santa Clara, Calif. ($670million) 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. ($160million). Also, Self-Help CU, Durham, N.C., the nation’slargest community development credit union, was cleared to acquireCape Fear FCU, in nearby Wilmington, N.C. ($12 million).

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER