The NCUA's December Insurance Report of Activity listed only eight credit unions that received the federal agency's approval to merge.
December's report released late last month brings the total number of approved consolidations last year to 200, the same number that the NCUA approved in 2016. That's down from the 238 approved mergers in 2015, 262 in 2014, 258 in 2013 and 261 in 2012.
All but one of the credit unions that received the OK to merge managed assets of less than $50 million, according to the December NCUA report.
Recommended For You
The largest consolidation for the month was the $103 million MemberFocus Credit Union in Dearborn, Mich., into the $247 million Our Credit Union in Royal Oak, Mich.
Two of the credit unions received the green light to merge because they were unable to find a new CEO and/or new board members, or as the NCUA describes it, "inability to obtain officials." They were the $14.7 million Monad Federal Credit Union in Pasco, Wash., into the $2 billion Numerica Credit Union in Spokane Valley, Wash., and the $1.8 million RTA Hayden Federal Credit Union in East Cleveland, Ohio into the $382 million Century Federal Credit Union in Cleveland.
Six credit unions received approval to consolidate for "expanded services."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
