ALEXANDRIA, Va. — NCUA said it approved another 18 mergers, more than half of them eliminating a credit union with repeated losses or lack of growth.
Among the mergers approved:
Del-One FCU, the $310 million Dover, Del., credit union, to absorb Seaford FCU, a $19 million credit union that lost $78,000 in 2012 and lost $91,000 for the first six months of 2013; Complex Community FCU, the $375 million Odessa, Texas, credit union, will merge Big Spring Community FCU, a $19 million credit union that lost $126,000 in 2012 and lost $127,000 in the first six months of 2013; Railway FCU, a $66 million Mandan, N.D., credit union, will acquire Genie-Watt FCU, a $15 million Bismarck credit union with $43,000 in losses for 2012 and $27,000 losses for the first half of 2013; Great Lakes CU, a $630 million Chicago credit union, will absorb Chicagoland Electrical Industry FCU, a $15 million credit union with a $198,000 loss for 2012 and an $89,000 loss for the first six months of 2013; Arsenal FCU, a $186 million Arnold., Mo., credit union, to acquire Southern Illinois Area FCU, a $9 million credit union with losses of $70,000 for 2012 and $61,000 for 2013.
Other struggling CUs being merged out: Ketema FCU (into California Coast CU); Bakersfield Community FCU (into Bakersfield City Employees FCU); B&O FCU (into Emery CU); BNSF FCU (into Amarillo Community FCU) and Englewood Community FCU (into Colorado FCU).
