ALEXANDRIA, Va. – NCUA reported yesterday it approved another 21 mergers, almost all of them of troubled institutions.
Among the mergers are of:
Lawrence Firefighters FCU, a $41 million Lawrence, Mass., credit union that lost $1.9 million last year and $180,000 for the first nine months of 2008, into NESC FCU, a $38 million credit union in nearby Methuen;
BBW FCU, a $1.3 million Birmingham, Ala., credit union with a $810,000 loss for the first nine months of the year, into Alabama Telco FCU, the $365 million Birmingham credit union;
Embarcadero FCU, a $45 million San Francisco credit union with a $630,000 nine-month loss, into 1st Pacific FCU, a $150 million credit union in nearby Vallejo, Calif.
Other troubled credit unions to be merged out are: Railway Employees FCU, Washington, D.C. (into Transit Employees FCU, in Washington); Mon Postal FCU, Elizabeth, Penn. (into Tri Boro FCU, Munhall, Penn); IUSTHE FCU, Clifton, N.J. (into County Educators FCU, Roselle Park, N.J.); PSI Terre Haute Division FCU, Terre Haute, Ind. (into Crane FCU, Odon, Ind.); Alliance of Poles FCU, Cleveland (into Steel Valley CU, Cleveland) and BTW FCU, Birmingham, Ala. (into Alabama Telco FCU).
Also: Ceramic CU, East Sparta, Ohio (into Stark CU, Canton, Ohio); Southeast Georgia Health System FCU, Brunswick, Ga. (into Marshland Community FCU, Brunswick); College Station Community FCU, College Station, Ark. (into Hope Community FCU, Jackson, Miss.); Peoples’ Community Partnership FCU, Oakland, Calif. (into Self-Help FCU, Durham, N.C.); News-Record FCU, Greensboro, N.C. (into Summit FCU, Greensboro), and Texas Transportation FCU, San Antonio (into Greater Texas FCU, Austin, Texas).
