Corporate Consolidation MovesAhead
ALBANY, N.Y. - (04/24/06) Officials of Empire CorporateFCU and Mid-States Corporate FCU announced Friday that NCUA hasapproved the combination of the two, one of four corporate mergersin process. Empire Corporates membership will vote on themerger in May and, if approved, the combination will be completedby June 30. The merger will create a corporate with almost $11billion in assets under the name Members United Corporate FCU.Joseph Herbst, president and CEO of Empire Corporate, will head thecombined corporate. The other corporate combinations in variousstates of process are: Southwest Corporate FCU (Texas) withSoutheast Corporate FCU (Florida); WesCorp FCU (California) withVolunteer Corporate CU (Tennessee); and Louisiana Corporate FCUwith Corporate America CU (Alabama).