After 81 years of serving at the heart of American power, White House Federal Credit Union will merge with the Department of Commerce Federal Credit Union during this presidential election year.
The credit union that has served the executive branch of government since 1935 will be one of the nation's fortunate merged cooperatives because it will keep its name post-merger, unlike most of the 238 credit unions across the country that were consolidated out of existence in 2015.
However, the total number of last year's mergers was lower than 2014′s total number of NCUA-approved consolidations of 262. The 2015 merger tally was also less than the 243 approved mergers in 2013 and 258 in 2012.
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