The NCUA should spell out its procedures for finding potential assisted merger partners in a proposed rule and also be more forthcoming about the agency's role in ensuring a merger's success.
Those are among the recommendations of a task force of credit union and credit union league executives formed by CUNA to address the issue. It was chaired by Ohio Credit Union League President Paul Mercer.
The panel said changes in the system are needed because "concerns about how such mergers are handled by the agency abound within the system. More specifically, credit union concerns have focused on how the agency determines, which credit unions should be merged, which credit unions can be chosen to acquire a target credit union and what are the qualifications for credit unions selected as acquirers."
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