Consolidations

The industry was well positioned in terms of net worth before the pandemic and recession, but some institutions could run into issues with sluggish earnings and a surge in deposits.

The Odon, Ind.-based credit union would gain six branches by acquiring Community State Bank of Southwestern Indiana.

The merger between the two Corpus Christi, Texas-based institutions is expected to close this summer.

Suncoast Credit Union and Apollo Bank have called off their plans to merge.

C&NW Proviso, which has no website or online services, will gain a slate of new products and additional locations from the deal.

Members of West York Area School District Employees Federal Credit Union approved the merger into First Capital, and the deal is expected to close this summer.

Local 229 IBEW Federal Credit Union, which had less than $2 million in assets, has merged into White Rose Credit Union.

TruStone Financial and Firefly Credit Union have announced plans to merge, pending regulatory approval and charter changes.

The integration of Habersham Federal Credit Union into HALLCO Community Credit Union is expected to take several months.

Members of Maryland-based GEICO Federal Credit Union are set to vote on whether to merge into Illinois-based Baxter Credit Union.

N.W. Iowa CU has agreed to merge into Siouxland FCU, citing rising technology costs and an increasingly complex compliance environment.

The New York-based credit union is set to absorb Hudson River Financial FCU and Columbia-Greene FCU following charter conversions at those institutions. Sunmark has picked up at least two other small CUs within the last 18 months.

Members of Andigo Credit Union in Schaumburg, Ill., have approved a proposed merger into Consumers Credit Union in Gurnee, Ill.

Southwest HealthCare Credit Union agreed to merge into Canyon State because of increased competition and regulatory demands.

The $1.8 billion-asset institution will likely absorb Spartanburg City Employees FCU later this year, following a vote of that CU's members next month.

At just $3.7 million in assets, tiny Financial 1st Federal Credit Union has voted to merge into Horizon FCU.

The number of deals per year was declining even before the pandemic, and it's unclear when things might pick up again.

Alabama Rural Electric Credit Union will merge into Alabama One later this year, creating a combined institution with a reach across 57 counties.

Northern Paper Mill Credit Union will merge with Fox Communities CU but no date has been given for when the deal might take effect.

Fluke Employees Federal Credit Union has agreed to become part of Sound Credit Union and the transaction should close later this year.