The nation's second largest mega-merger, that of the $4.7 billion California pairing of Kinecta FCU and NuVision FCU, moved a step closer this month with a formal application filed with the NCUA.

The planned consolidation slated for completion in early 2012, pending regulatory and member approval, would create an entity with 51 branches serving 300,000 members, according to Roger Ballard, the merged CU's its designated president/CEO. The proposed merger was first announced in June 2010.

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