The largest credit union merger announced to date has been called off.
In March, the $5.9 billion Suncoast Schools Federal Credit Union and GTE Federal Credit Union, with $1.9 billion in assets, announced plans to merge and create an $8 billion credit union.
The decision to call off the merger came as the two credit unions conducted due diligence and found that the disruption in operations caused by the merger outweighed the positive.
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