Consolidations

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Members of Credit Union South, which has lost money during the past five years, voted to approve the merger.

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European banks need to look beyond their home countries for mergers in order to tap the region's full economic power and become more competitive, JPMorgan Chase Chief Executive Jamie Dimon said.

Members of Cheshire County Federal Credit Union have approved the merger into the Gardner, Mass.-based GFA.

Soo Line Credit Union would merge into Central Minnesota Credit Union, creating an institution with more than $1.1 billion in assets.

Members of District 8 Highway Employees CU have approved a proposal to become part of Metro Credit Union.

A new initiative aims to help small credit unions survive and thrive, but a plethora of trends are working against them.

Members of NBC (NY) Employees Federal Credit Union have approved the merger into the Bloomfield, N.J.-based XCEL.

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As they continue to protest credit union mergers, banks are set to reap the benefits from a deal that will create an institution one-third the size of the entire CU industry.

BB&T is buying SunTrust Banks, creating a $442 billion-asset institution. Credit unions are hopeful the mega merger will present an opening to pick up new business.

Members at Star Credit Union, which has just $32,000 in assets, have approved the proposed merger into Summit.

In 2017, the National Credit Union Administration board approved provisions to make mergers more transparent. But one of those changes has become a casualty of the government closure.

The Lake Mary, Fla., credit union has agreed to buy Fidelity Bank of Florida, which the SBA designated as a certified lender in 2017.

The $1.9 billion-asset Schools Financial Credit Union has plans to merge into SchoolsFirst, which is already the largest credit union in California.

"I don't and I never would discount the European banks," Citigroup Chief Executive Officer Michael Corbat said in an interview at the World Economic Forum in Davos. "Don't overestimate the U.S. banks' position, and don't underestimate the European banks' position."

Bank of America Chief Executive Officer Brian Moynihan predicted another round of consolidation in the U.S. that could lead to the emergence of a new competitor.

Coast-Tel Federal Credit Union is merging into Bay Federal Credit Union on Feb. 1 with the integration expected to be completed by midyear.

A number of healthy credit unions have undertaken “mergers of equals” to bolster long-term prospects. But those institutions are opening themselves up to unique risks and challenges as a result.