Consolidations

Members of First Choice Community Credit Union will have access to mobile banking and other products once the institution becomes part of Credit Union of Ohio.

State College FCU is seeking member approval to fold into Horizon CU, citing ongoing challenges finding members to serve on its board of directors and supervisory committee.

The combined institution will serve almost 75,000 members with nearly $660 million in assets.

The deal is expected to close sometime next year but is still subject to regulatory and member approval.

Members of St. Matthews Federal Credit Union are set to vote on whether to join the $2.3 billion-asset Chartway before the end of the year.

Having already changed charters for a statewide field of membership, the Jackson, Mich.-based institution will now merge with Washtenaw Federal Credit Union.

Go Federal Credit Union CEO Bert Beal will take the helm of the combined institution once they join America's Credit Union.

A pending combination with Animas Credit Union will broaden the Albuquerque-based institution's reach in northern New Mexico.

A plan to merge the $5.5 million-asset credit union into Cal-Com FCU will provide additional services for members while also easing the process of replacing several employees who plan to retire this year.

The two institutions have assets of more than $215 million and serve over 12,000 members.

Pathways Financial's acquisition of Standard Register FCU increases its foothold in the Dayton market.

Data from the National Credit Union Administration shows that despite a dip during the second quarter, the rate of industry consolidation has not changed dramatically from last year, despite the pandemic.

Members of Sperry Associates FCU will vote on a deal to merge into the nation's third-largest credit union. Both institutions have roots in serving the defense sector.

Whether the number of deals for 2020 can come close to last year's record-setting level will come down to one question: Can community banks generate strong enough profits in the second half to justify their independence?

SC Telco Federal Credit Union and Anderson FCU will adopt the name Spero Financial once their merger takes effect early next year.

The Nashville-based institution is still awaiting regulatory approval on a proposal to operate as a subsidiary of Fortera Credit Union.

MBFT Federal Credit Union serves just 131 members and holds less than $1 million in assets.

NuMark and NorthStar Credit Unions plan to join forces later this year, with NuMark CEO Ann Dubie retiring once the deal has been completed.

Prior to the merger, First Castle was the nation's second-oldest existing federally chartered credit union.

Webster Federal Credit Union and Finger Lakes FCU plan to join forces before the end of the year, though the deal still needs approval from regulators and members.