Giant CUs Get NCUA Approval For More Mergers
ALEXANDRIA, Va. – NCUA reported yesterday that two more billion-dollar credit unions have been cleared for mergers: Pentagon FCU, which will acquire $12 million Trippler FCU in Honolulu; and Anheuser-Busch Employees FCU to acquire tiny St. Margaret FCU.
The regulator also approved a request by $720 million Aloha Pacific FCU to acquire $15 million Media Hawaii FCU.
In addition, Greater West Haven FCU, a $5 million credit union in West Haven, Conn., was cleared to have two larger credit unions merged into it: West Haven Municipal FCU, with $14 million in assets, and West Haven V.A. Employees FCU, with $7 million.
NCUA approved the combination of Heritage CU, Madison, Wis., with H-B CU in Milwaukee.
Merger activity has slowed considerably, with NCUA approving only nine combinations last month, about one-third of the monthly average number of credit union mergers.