The mergers of three small credit unions in Connecticut were finalized in October.

The $31 million Capitol Region Federal Credit Union in Wethersfield, Conn., merged into the 16,504-member, $194 million Dutch Point Credit Union also in Wethersfield, on Oct. 26, according to Capitol Region FCU's website.

Though the NCUA approved the consolidation in March for Capitol Region FCU to expand services for its 5,171 members, the 59-year-old Connecticut cooperative – like many small credit unions – was struggling financially.

Capitol Region FCU's loan income plunged from $1.1 million in 2008 to $618,295 in 2012, which contributed to more than $750,000 in total net income losses in those same years, according to NCUA financial performance reports. 

While Capitol Region FCU also posted declines in investment income, its fee income increased from $557,774 in 2008 to $569,827 in 2012, NCUA reports shows.

Capitol Region FCU's members approved the merger in June.

The 1,923-member, $8.1 million Middlesex Healthcare Federal Credit Union in Middletown, Conn., also was facing financial challenges when it merged with the 15,909-member, $135 million Seasons Federal Credit Union also in Middletown.

The merger was completed on Oct. 1, according to Middlesex Healthcare FCU's website.

The consolidation was approved in July by NCUA, which posted Middlesex Healthcare FCU's “inability to obtain officials” as the reason for the merger, according to the regulator's Insurance Report of Activity.

Middlesex Healthcare FCU's loan income dropped from $290,510 in 2008 to $194,826 in 2012, according to NCUA financial performance reports. While its investment income fell from $80,544 to 2008 to $51,426 in those same years, the cooperative's fee income increased from $41,490 in 2008 to $55,429 in 2012.

The credit union also posted total net losses of $50,000 from 2009 to 2012, NCUA reports show.

Rosalind S. Smith, Middlesex Healthcare FCU president/CEO for 16 years, said she is leaving the credit union in December. Two other employees will continue to work for Seasons FCU, she said.

Smith said the Middlesex Healthcare FCU is maintaining its name and location, continuing to operate as a division of Seasons FCU.

The systems conversion of Middlesex Healthcare FCU is expected to be completed in December, Smith said.

The 1,472-member, $10 million CNGFCU in East Hartford, Conn., merged with the 6,880-member, $42 million Hartford Municipal Employees Federal Credit Union in Hartford, Conn.

The systems conversion of CNGFCU was completed on Oct. 1, according to Hartford Municipal Employees FCU's website.

The consolidation was approved in June by NCUA, which posted CNGFCU's “inability to obtain officials” as the reason for the merger, according to the regulator's Insurance Report of Activity.

CNGFCU posted some decreases as well as increases in loan, fee and investment income from 2008 to 2012, according to NCUA financial performance reports. The cooperative also recorded total net losses of more than $134,000 from 2008 to 2010, but posted a net income gain of $12,173 in 2011 and $3,364 in 2012, NCUA financial performance reports show.