Merger Activity Accelerates

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ALEXANDRIA, Va. - (09/20/04) -- NCUA said it approved 27 creditunion mergers last month, making a total of 202 combinationsthrough the first eight months of the year. Last month's approvalsincluded 18 with one or more small credit unions under $5 millionin assets, making 134 small credit unions erased through merger sofar in 2004. The biggest mergers approved in August were: GTE FCU,Tampa, Fla. ($1.8 billion) with NOME FCU, New Orleans ($24million); Texas Dow Employees FCU, Lake Jackson, Texas ($780million) with Texas Crossroads CU, Victoria, Texas ($75 million);Pioneer CU, Green Bay, Wis. ($212 million) with Fox Point CU, DePere, Wis. ($23 million); and Numerica CU, Spokane, Wash.($500million) with Coeur D'Alene Teachers FCU, Coeur D'Alene, Idaho($11 million).

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