ST. LOUIS – The pace is heating up on corporate mergers as the deadline for NCUA minimum capital standards approaches, with members of Missouri Corporate CU and Montana’s Treasure State Corporate CU approving the latest corporate merger.
The two corporates, which have about $700 million in assets, expect NCUA to approve their combination either in October or in November.
Meantime, NCUA, which is seeking a buyer for the remnants of WesCorp FCU, has picked up its efforts to find merger mates for several small corporates which are not expected to survive the shake-out in the corporate landscape, according to several sources.
Last week Corporate One FCU announced its plans to merge with Southeast Corporate FCU and several other combinations are also in the works: including Mid-Atlantic Corporate FCU with Virginia Corporate FCU; Corporate America CU (Alabama) with Louisiana Corporate CU; and Volunteer Corporate CU (Tennessee) with West Virginia Corporate CU.
