The credit union has posted a total net income loss of $2.4 million from 2008 to 2012, according to NCUA financial performance reports. The cooperative did post a net income gain of $99,210 in the first half of this year, NCUA financial reports show.

The merger has been approved by members and the NCUA. All of AMFCU's employees continue to work at SkyOne FCU.

“We are honored and excited to be able to serve the members of AM Federal Credit Union,” said Eileen Rivera, president/CEO of SkyOne FCU. “We look forward to providing these members with greater value and still continue to bring them local, personalized service.”

The $17 million A + Credit Union of Idaho, however, is a financially sound cooperative that decided to merge with the $3.5 billion Mountain America Federal Credit Union in West Jordan, Utah.

“A+ Credit Union of Idaho has a proud tradition of service,” said Phillip Sorensen, president/CEO of A+ Credit Union based in Idaho Falls. “We have been serving educators in Bonneville County, Idaho for 68 years. We are pleased with our plan to merge with Mountain America Credit Union. I have worked in the credit union industry for 26 years and belonged to several credit unions; Mountain America is one of them. I know their service reputation and suggested our board approach them about a merger.”

Sorensen said increasing competitive pressures, low loan yields and the increasing costs and burdens of regulations led the credit union's board to make the merger decision.

Though the cooperative has seen some declines in loan income over the last couple of years, it has shown net income gains of $24,887 in 2012, $61,047 in 2011 and $32,945 in 2010, according to Callahan & Associates. Although the cooperative had a net income loss of $49,622 in 2009 it recorded a net income gain of $86,326 in 2008.

The merger has been approved by the membership and NCUA.

A+ Credit Union's office will remain open and its employees will continue to work for Mountain America.

In Illinois, the $5.7 million Danville Consolidated CU in Danville has merged with the $65 million Landmark CU, also in Danville, effective Sept. 3.

Danville Consolidated was chartered in 1950 by the employees of ESCO Corp, a manufacturer and distributor. The cooperative received its community charter in 2002 and merged with the former Eastgate Credit Union to expand its field of membership. The credit union served 1,379 members.

Danville Consolidated CU's four employees continue to work under the Landmark CU banner and Danville Consolidated's sole branch remains open, said Jeri Hanson, the former president/CEO of Danville Consolidated CU.

Like many very small credit unions, Danville Consolidated CU had been struggling financially. Since 2010, the cooperative's loan, fee and investment revenues have been declining, according to NCUA financial performance reports.

In addition to its net income falling 2010 and 2011, Danville Consolidated posted a net income loss of $97,838 at the end of 2012, as well as a net income loss of $22,182 in the first half of this year, according to NCUA financial performance reports.

Danville Consolidated CU decided to merge because of competitive pressures and rising costs of meeting regulations, said Hanson.