Merger Activity Cools Down, NCUA Reports

Merger activity slowed in May with NCUA approving just 19 CU combinations, the fewest since last November. That makes a total of 116 mergers approved through the first five months of the year.

Fifteen of the mergers approved in May included one or more small credit unions under $5 million in assets, making a total of 80 small credit unions erased through mergers so far this year.

The biggest combinations approved during the month were: West Virginia FCU, South Charleston, W.V. ($95 million) with True Blue FCU, Huntington, W.V. ($4 million); The Family CU, Davenport, Iowa ($45 million) with Alliance CU, Davenport (13 million); Southern Oregon FCU, Grants Pass, Ore. ($130 million) with Umpqua FCU, Roseburg, Ore. ($11 million).