ALEXANDRIA, Va. – NCUA on Friday said it approved three more mergers for billion-dollar credit unions, continuing a trend of big credit unions getting bigger through mergers.
Lake Trust CU, a $1.6-billion Lansing, Mich., credit union, was cleared to acquire Father Kramer FCU, an $8-million institution in Center Line, Mich.; $1.4-billion Educators CU in Racine, Wis., was approved to acquire $12-million Kyle Central CU in South Milwaukee; and, Community First CU, a $1.5-billion Appleton, Wis., credit union, was approved to acquire $2-million WPS CU in Oshkosh.
NCUA approved two acquisitions for Great Lakes FCU, a $540-million North Chicago credit union: Federated Family CU, a troubled, $11-million Milwaukee institution; and Chicago Heights Onized FCU, a tiny Chicago credit union.
Also approved was the merger of American 1 CU, a $192-million Jackson, Mich., credit union, into $10-million Michigan Services FCU in Southfield, Mich.; and $23-million Heart of Lakes in New York Mills., Minn., into $580-million Central Minnesota FCU in Melrose.
