Growth strategies

Two Kansas credit unions have announced that they are discussing a merger.

BROOMFIELD, Colo. — Members of Boulder Municipal Employees Federal Credit Union voted to approve a proposed merger with Community Financial Credit Union, here, to create a CU with more than 18,000 members and $200 million in assets.

Members of Minneapolis-based Endura Financial Federal Credit Union voted to approve a proposed merger into Connexus Credit Union effective Oct. 1, creating a CU with assets exceeding $990 million.

Two credit unions that share the same building-and a family connection-plan to merge.

TAMPA, Fla. — The Florida Office of Financial Regulation has approved Florida Central Credit Union's bid to purchase a branch of First Federal Bank of Florida, the CU said.

OKLAHOMA CITY — The $562 million FAA Credit Union became the first CU in Oklahoma to receive the Cornerstone Credit Union League's "Juntos Avanzamos" or "Together We Advance" designation for its "dedicated service" to the Hispanic community.

LOMPOC, Calif. — Following a conversion from federal to state charter last month, the $750 million CoastHills Credit Union is expanding its services and field of membership to five contiguous Central Coast California counties to include Monterey, San Luis Obispo, Santa Barbara, Santa Cruz and Ventura.

BREA, Calif. — Members of the $130 million South Western Federal Credit Union voted "overwhelmingly" in favor of merging into the $781 million Credit Union of Southern California, all but finalizing the union of the two CUs.

WASHINGTON — With credit unions finally hitting the 100 million member mark last week, analysts and executives said the most powerful impact of reaching this milestone is the increased awareness of one of the "best-kept secrets" in financial services.

Directors talk about succession planning for both board and management recruitment.

Credit union executives are celebrating the movement reaching the 100 million-member milestone — but what does it really mean for the industry?

LAS VEGAS — Credit unions must be aware of and adapt to fundamental changes in the world around them, such as a younger generation that would rather use financial applications than go to financial institutions.

JACKSONVILLE, Fla. — The boards of Duval Federal Credit Union and 121 Financial Credit Union have agreed to merge late this year, subject to approval by their memberships and regulators, the FCUs jointly announced.

NEW YORK. — Education Affiliates FCU's members have voted to approve the proposed merger with McGraw-Hill FCU in East Windsor, N.J.

JACKSONVILLE, Fla. — Members of the State Employees Credit Union voted in favor of merging into First Florida Credit Union, formally creating a CU with more than $725 million in assets and 60,000 members.

TALLAHASSE, Fla. — Credit unions continue to buy banks, with First Commerce CU here entering into a purchase and assumption agreement with First National Bank of Crestview.

VALDOSTA, Ga. — Tiny $12.2 million Nashville Credit Union is looking to merge into $198 million Southeastern FCU here, in a move both institutions are calling "strategic in nature."

WICHITA, Kan. — Two Kansas credit unions on Monday announced their intent to merge, a move that would create an institution with a combined 15 branches, $525 million in assets and more than 70,900 members.

RANCHO CUCAMONGA, Calif. — CO-OP Financial Services is expanding its popular THINK initiative, adding a series of four free regional one-day events to go along with its annual conference.

SYLVANIA, Ohio — Inspired by millionaire Jason Buzi who has been hiding envelopes in major U.S. cities stuffed with $100 for strangers to find, one credit union is doing something similar in a few small towns that have been battered by the recession.