Consolidations

City of Boston Credit Union also expanded its field of members earlier this year. The moves are part of a long-term growth strategy to remain competitive.

CONSOL Employees Credit Union has filed an application to merge into Century Heritage Federal Credit Union.

The $20 million-asset Stephens-Franklin Teachers Credit Union will merge into Peach State later this week.

With desirable merger partners hard to find, some credit unions are starting to look well beyond their home base.

Queen of Peace Arlington Federal Credit Union had just $2.6 million in assets and one employee prior to the merger.

McCone County Federal Credit Union has added roughly $9 million of assets with the merger of Fallon County Federal Credit Union.

More than half of all federally insured credit unions have less than $50 million of assets. But challenges, including increased demands for technology, are making it harder for small institutions to thrive, forcing some to look for merger partners.

The two institutions scuttled their original plans to merge earlier this year after a court invalidated some parts of the NCUA's field of membership rules for federally chartered institutions.

The combined institution will serve roughly 13,700 members with $300 million of assets and six branches.

The central bank’s top regulatory official discussed how the Fed is using listening sessions in isolated communities to understand the effect of losing the one bank in town.