The second largest consolidation in the third quarter was the $450 million Crescent Credit Union in Brockton, Mass., into the $607 million Sharon Credit Union in Sharon, Mass. This will create the Bay State's 10th billion-dollar financial cooperative, and it will serve more than 83,000 members.

The NCUA also approved the consolidations of the $141 million Motor City Co-op Credit Union in Clinton Township, Mich., with the $414 Christian Financial Credit Union in Roseville, Mich., and the $134 million Delta County Credit Union in Escanaba, Mich., with the $233 million Embers Credit Union in Marquette, Mich., which were the third and fourth largest consolidations, respectively.

Another notable merger was the $80 million Magnify Credit Union in Mulberry, Fla. with the $24.7 billion Pentagon Federal Credit Union in McLean, Va.

Because of their poor financial condition, the following credit unions received NCUA approval to merge: the $3.5 million City of Schenectady Employees Federal Credit Union in Schenectady, N.Y., with the $1.8 billion CAP COM Federal Credit Union in Albany, N.Y; the $5.9 million People's Choice Federal Credit Union in Duryea, Pa. into the $50.8 million Citymark Federal Credit Union in Wilkes Barre, Pa., the $4.4 million Monroe Education Employees Federal Credit Union in Monroeville, Ala., with the $700 million Gulf Winds Credit Union in Pensacola, Fla.; the $4.8 million Homestead Federal Credit Union in Billings, Mont., into the $285 million Altana Federal Credit Union also in Billings, and the $2.7 million Pacoima Development Federal Credit Union in Pacoima, Calif., with the $351 million Gain Federal Credit Union in Burbank.

Credit unions that received the OK to merge because they were unable to find new leadership were the $63 million Electrus Credit Union in Brooklyn Center, Minn. with the $1.1 billion Spire Credit Union in Falcon Heights, Minn., and the $267,646 Martin Luther King Credit Union in Houston, into the $119 million Plus4 Credit Union also in Houston.