ALEXANDRIA, Va. – Pennsylvania State Employees CU was approved to acquire another small credit union, its third over the last three months, NCUA said yesterday.
The latest merger, of $6 million Clarion University Employees CU, joins recent deals for $9 million Rite Aid Employees CU and $3 million Gannett Fleming Employees CU by the $3 billion credit union.
NCUA also okayed the combination of Summit CU with Great Wisconsin CU to create a $1.2 billion Madison, Wis.-based credit union, the state’s largest.
NCUA said it approved a request from Redwood CU, a $1.7 billion Santa Rosa, Calif., credit union, to acquire California Preferred CU, a $43 million San Francisco credit union.
Also approved was the merger of $50 million Walla Walla Valley FCU into $630 million Gesa CU, of Richland, Wash.
