ALEXANDRIA, Va. – NCUA on Tuesday said it approved four more mergers for billion-dollar-plus credit unions, as credit unions giants ended the year as they began it – acquiring their smaller brethren.
Approved in the closing days of 2011 were: Georgia’s Own CU’s acquisition of The Thrift FCU in Atlanta; Anheuser-Busch Employees FCU’s merger of St. Louis Carpenter’s FCU; and two deals for Wisconsin’s $1.7-billion Landmark CU, allowing it to acquire Peoples CU and Horizon CU.
Several ailing credit unions are being merged out, including: Access First FCU, a $27-million Mattawan, Mich., credit union being acquired by United Bay Community FCU in Bay, Mich.; Peach State FCU, a $15-million credit union in Avondale Estate, Ga., being merged into Gwinnett FCU; and, Kunia FCU, a $16-million Hawaii credit union being acquired by Matanasuka FCU in Alaska.
NCUA approved 37 mergers in December making a total of 234 mergers during 2011, up from 179 mergers in 2010.
