Merger Activity Cools

Register now

ALEXANDRIA, Va. - (04/13/05) -- NCUA said it approved another 20credit union mergers last month, making a total of 64 combinationsapproved in the first quarter, down slightly from the 73 okayed inlast year's first quarter. Another 14 small credit unions under $5million in assets will be eliminated from the mergers approved inMarch, bringing to 43 the number of small credit unionsdisappearing so far this year. The biggest combinations approvedlast month were: DPS FCU, Denver ($575 million) with Safeway RockyMountain FCU, Centennial, Colo. . ($150 million); Credit Union One,Ferndale, Mich. ($710 million) with Suburban Family CU, Farmington,Mich. ($17 million); and The Southern FCU, Fayetteville, Ga. ($145million) with TARA CU, Jonesboro, Ga. ($65 million).

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER