IDAHO FALLS, Idaho Mountain America CU will expand its presence in Idaho with a deal for $16 million A+ CU, one of three privately insured Idaho credit unions approved to be merged into federally insured credit unions, NCUA reported today.
Mountain America, which already has three branches in Idaho, will gain a branch in Idaho Falls and 3,000 member accounts with the acquisition of the one-time teachers’ credit union.
NCUA also approved two other mergers of privately insured Idaho credit unions into federally insured institutions: Simcoe CU, a $6 million Heyburn credit union (into Connections FCU), and Cassia County Educators CU, a $3 million Burley credit union (into Idaho State University FCU), both of them insured by ASI.
Federally insured credit unions and the National CU Share Insurance Fund have absorbed five privately insured credit unions, all of them insured by ASI Inc., in recent weeks. The others were Maryland’s $32 million U.S. Coast Guard Community CU (into Tower FCU) and California’s $16 million Firestone Financial Services CU (into Credit Union of Southern California).
