CU Merger Boom Continues

- ALEXANDRIA, Va. (04/20/00) - NCUA approved 30 morecredit union mergers in March, making 84 for the first three monthsof the year, ahead of last year’s pace when the federalregulator approved the most mergers in five years. The vastmajority of last month’s approved mergers, 24, will result ina small credit union under $5 million in assets being merged out ofexistence. Through the first three months 66 small credit unionshave been merged out. The biggest mergers approved in March: BarcoFCU, Hampden, Me. ($105 million) with Vassalboro FCU, NorthVassalboro, Me. ($11 million); Army Aviation Center FCU, Daleville,Ala. ($328 million) with Sony Magnetic Products Employees FCU,Dothan, Ala. ($11 million); First Nebraska FCU, Omaha, Neb. ($40million) with Educators FCU, Omaha, Neb. (15 million).