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.