Merger-Mania Claims More CUs

ALEXANDRIA, Va. - (01/24/06) – Another 29 credit union mergerswere approved by NCUA last month, as credit unions continued ontheir annual year-end efforts to combine. The 319 mergers approvedby NCUA in 2005 were up from 300 approved the year before and afive-year high. The biggest mergers approved in December were:Texans CU, Richardson, Texas ($1.5 billion) with Dallas County CU,Dallas ($24 million); Premier America CU, Chatsworth,, Calif. ($1.1billion) with JBL Employees FCU, Northridge, Calif. ($11 million)and Shawassee Community CU, Coronna, Mich. ($60 million) withGenessee First FCU, Flint, Mich. ($76 million). Last month’smerger approvals includes 15 small credit unions of $5 million orless, making a total of 147 small credit unions that disappearedthrough mergers last year.