ALEXANDRIA, Va. NCUA on Monday reported more ailing credit unions were approved for mergers, either because of financial difficulty, lack of growth or inability to find officials.
CNG FCU, a $10-million East Hartford, Conn., credit union, for example, is being combined with $33-million Hartford Municipal Employees FCU, because of the smaller credit union’s inability to obtain officials. NWS Yorktown FCU, a $24-million Yorktown, Va., credit union, is being folded into $580-million 1st Advantage FCU in Newport News, because of poor financial condition.
Financially troubled Thornton Township School FCU, a $9-million South Holland, Ill., credit union, is merging into $530-million Great Lakes CU in Chicago, for expanded services.
Other credit unions listed in financial trouble being merged out are: Sacks Fifth Avenue Enterprises FCU in New York into L’Oreal USA FCU; Uncle Sam FCU in Troy, N.Y. into Albany Firemens FCU; Runnells Hospital Employees FCU in New Jersey into Affinity FCU; Lithuanian FCU in Los Angeles into Clearpath FCU; Public Service CU in Kewaunee, Wis. into Community First CU; and, Toledo Bend Teachers FCU in Hemphill, Texas into Doches CU.
