Three-Way Merger Forges New CUGiant

December 08, 2005, 1:00 a.m. EST 1 Min Read

DENVER - (12/08/05) The $176-million Gateway Credit Unionsaid it plans to merge with two other Colorado credit unions thatare wrapping up a merger of their own. Gateway will join with$565-million DPS Credit Un-ion, which earlier this year merged withSafeway Rocky Mountain Credit Union. Together, the credit unionsserve Denver and its southern, western and eastern suburbs. GatewayCU members will vote on the merger with DPSCU/SRMCU in June, 2006.The combined organization will have approximately $890 million inassets and 76,400 members, and is expected to take another year tocomplete. The credit unions reported they are currently finalizinga name change.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Politics and policy

Senate Dems press for oversight hearing before year-end

Leading Democrats on the Senate Banking Committee sent a letter to Chair Tim Scott, R-S.C., pointing out the as-yet unsatisfied legal requirement for prudential regulators to appear in Congress semiannually.

By Claire Williams

2h ago
Politics and policy

FSOC tilts scales in oversight toward deregulation

Treasury Secretary Bessent said FSOC is readjusting its approach to avoid stifling growth in moves with implications for capital, technology and mortgages.

By Bonnie Sinnock

December 11
Federal Reserve

Fed unanimously reappoints all regional presidents

The Federal Reserve Board of Governors voted Wednesday to reappoint 11 sitting regional Fed presidents, without any dissents. The move precludes any effort the White House might have made to pressure the board to deny reappointments.

By Maria Volkova

December 11
M&A

High-cost lender Enova's plan to buy a bank sparks backlash

Enova International, a nonbank lender in Chicago, plans to gain scale by taking over Grasshopper Bank's national bank charter. The deal already faces skepticism from critics of Enova's high-cost lending model.

By Allissa Kline

December 11
Fintech

Airwallex raises $330 million to expand into US, Europe

The payments fintech reported an $8 billion valuation as it aims to establish a second global headquarters in Silicon Valley and expand into Europe and the U.K.

By Melinda Huspen

December 11
Buy now pay later

BNPL growing as charge-offs and late fees decline: CFPB

A Consumer Financial Protection Bureau report on Pay in 4 buy now/pay later loans offered validation for an industry that has faced criticism for expanding into everyday spending, such as food delivery.

By Joey Pizzolato

December 11