The NCUA approved 19 mergers in December, bringing 2014′s total number of consolidations to 262, which was considerably higher than the 243 mergers in 2013 and slightly higher than the 258 consolidations in 2012.
Since 2000, the annual trend line for mergers has ranged from 200 to 250, for a yearly average of 229, according to the NCUA. If that trend line continues to hold, there will be an estimated 5,400 cooperatives by 2018 and approximately 4,260 credit unions by 2023.
While all of the 19 merged credit unions were under $30 million assets, four cooperatives received NCUA approval because they were in poor financial condition, according to the agency's December Insurance Report of Activity.
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