ALEXANDRIA, Va. – NCUA yesterday said it approved two more acquisitions by credit unions giants, continuing a trend that has been accelerating in recent months.
Both Suncoast Schools FCU, with $6 billion in assets, and $1 billion Navigant CU were approved to acquire much smaller credit unions that each serve newspaper employees.
Suncoast Schools, based in Tampa, Fla., will acquire Times Staffers FCU, the $7 million credit union for Times Publishing Company in St. Petersburg, Fla., including the St. Petersburg Times, and the company’s Congressional Quarterly in Washington, D.C.
Smithfield, R.I.-based Navigant will acquire $6 million Journal Employee FCU, in Providence, R.I., which serves employees of the city’s daily newspaper, the Providence Journal.
