Merger-Mania Continues to Thin Corporate Network

WARRENVILLE, Ill. – Members United Corporate FCU, formed by last year’s merger of the Illinois and New York corporate credit unions, announced Friday it has agreed to acquire The Central CU Fund, the oldest corporate in the nation. Central CU Fund, the $250 million corporate chartered in 1932 to serve Massachusetts credit unions, said the ability to leverage the products and services of the much-larger corporate, while maintaining a local presence, would be the best way to serve its members. Members United, which manages $11 billion in credit union funds, is the product of last year’s combination of Mid-States Corporate FCU with Empire Corporate FCU. The deal comes just a week after WesCorp FCU announced its plans to acquire SunCorp FCU, just as the giant California corporate is completing its acquisition of Tennessee’s Volunteer State Corporate FCU, or VolCorp.