Consolidations

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.

Cadmus Credit Union agreed to merge into Chartway Federal Credit Union after one of its select employer groups said it would shutter the facility where its only branch was located due to business issues that arose from the coronavirus.

United Methodist Federal Credit Union is set to become Interfaith Credit Union. It is also planning to absorb a small South Dakota-based institution with a similar field of membership.

Combining the two Southern California-based institutions will create the state's eighth-largest credit union. The deal is also a homecoming of sorts of Xceed CEO Teresa Freeborn, who was previously an executive at Kinecta.

A merger proposal at Partners Financial Federal Credit Union was rejected in a member vote. The failure has revealed tensions between management and the board.

A deal to merge Riverset CU into Allegant Community FCU will create the third-largest credit union in western Pennsylvania.

Members of NW Iowa Credit Union soundly rejected merging into Siouxland Federal Credit Union. The pandemic could lead to more unexpected results.

The credit union has agreed to buy Elberfeld State Bank, broadening its reach in the Evansville, Ind., market.

The Greenville, S.C.-based institution will gain three branches and about $100 million in assets if members of Anderson Federal Credit Union approve the transaction.

Following the completion of a merger between Canyon State CU and Deer Valley CU, the combined institution has unveiled its new name.

Members of Standard Register Federal Credit Union are expected to vote on the proposed merger into Pathways Financial Credit Union in August.