More Than 300 CUs In Mergers During 2005

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Another 29 credit union mergers were approved by NCUA last month, as credit unions continued on their annual year-end efforts to combine.

The 319 mergers approved by NCUA in 2005 were up from 300 approved the year before and a five-year high. Last month's merger approvals includes 15 small credit unions of $5 million or less, making a total of 147 small credit unions that disappeared through mergers last year.

The biggest mergers approved in December were: Texans CU, Richardson, Texas ($1.5 billion) with Dallas County CU, Dallas ($24 million); Premier America CU, Chatsworth, Calif. ($1.1 billion) with JBL Employees FCU, Northridge, Calif. ($11 million), and Shawassee Community CU, Coronna, Mich. ($60 million) with Genessee First FCU, Flint, Mich. ($76 million).

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