Merger Creates CorporateGiant
CHICAGO - (07/05/06) -- Mid-States Corporate FCU and EmpireCorporate FCU completed their combination, one of four corporateweddings currently in the works. The newly combined entity, nowcalled Members United Corporate FCU, will have more than $9 billionin assets under management and serve about a fourth of the nation'snatural person credit unions. Fitch Investors Service said therating outlook for the newly created corporate is stable but warnedthat due to the size of the combination , the merger holds moreintegration challenges than previous mergers conducted by the tworegional corporates. At least three other corporate combinationsare in various stages, including WesCorp FCU (California) withVolCorp FCU (Tennessee); Southwest Corporate FCU (Texas) withSoutheast Corporate FCU (Florida) and Corporate America CU(Alabama) with Louisiana Corporate CU.