Credit Unions Set to Finalize Mergers in 2020

While members are set to vote on 12 proposed credit union mergers in January and February, four credit unions announced this month their members have given the green light for their consolidations to finalize in 2020. 

The $54.9 million, 3,769-member Southwest Colorado Federal Credit Union in Durango, Colo. will merge into the $1.5 billion Credit Union of Colorado Federal Credit Union in Denver. Founded in 1958, Southwest Colorado employs 10 staff members. 

The $31.7 million, 8,681-member Health Facilities Credit Union in Florence, S.C. will consolidate with the $1.8 billion South Carolina Federal Credit Union in North Charleston, S.C. Health Facilities FCU was founded in 1977 and employs 14 staff members.  Health Facilities President/CEO Robert Harris will continue in the role as a city executive once the consolidation becomes effective on March 2. 

The $24 million, 3,247-member Turbine Federal Credit Union in Greenville, S.C. will merge with the $1 billion Self-Help Credit Union in Durham, N.C.  Turbine FCU, which employs eight staff members, was founded in 1976 as the Greenville Gas Turbine Employees FCU to serve General Electric employees. 

With both credit unions based in Alexandria, Va., the $28.5 million, 3,957-member AB&W Employees Credit Union will merge on March 1 with the $362 million Commonwealth One Federal Credit Union.

Founded in 1952, AB&W Employees CU employs nine staff members. 

According to the NCUA, members of 12 credit unions across the nation are scheduled to vote on merger proposals next year.

In January, members will vote on the following merger proposals: the $26 million Pueblo Horizons Federal Credit Union in Pueblo, Colo., with the $1.1 billion Premier Members Credit Union in Boulder, Colo.; the $9.8 million WoodCo Federal Credit Union in Perrysburg, Ohio with the $528 million Sun Federal Credit Union in Maumee, Ohio; the $4.3 million Yellowstone Federal Credit Union in Yellowstone National Park, Wyo., with the $415 million Meridian Trust Federal Credit Union in Cheyenne, Wyo.; the $2.3 million Parish Members Credit Union in Metamora, Ill.,  with the $120 million Cooperative Choice Network Credit Union in Peoria, Ill.; the $7.8 million Connecticut Federal Credit Union in North Haven, Conn., with the $35.4 million America’s First Network Credit Union in Trumbull, Conn.; the $96.6 million Lakes Community Credit Union in Lake Orion, Mich., with the $117 million Birmingham-Broomfield Credit Union in Birmingham, Mich., the $709,655 Urban Street Biscuit Workers Credit Union in Buffalo, N.Y. with the $55.1 million Western New York Credit Union in West Seneca, N.Y.; the $8.4 million Waltham Municipal Employees Credit Union in Waltham, Mass., with the $903 million RTN Federal Credit Union also based in Waltham; the $15.6 million Mississippi Farm Bureau Employees Federal Credit Union in Jackson, Miss., with the $2.9 billion Keesler Federal Credit Union in Biloxi, Miss., and the $90.3 million Chesterfield Credit Union in Chesterfield, Va.,  with the $3.7 billion Virginia Credit Union in North Chesterfield.

In February, members will vote on the following merger proposals: the $15.6 million Oshkosh Truck Credit Union in Oshkosh, Wis. with the $3.3 billion Community First Credit Union in Appleton, WIs., and the $7.2 million McCabe Hamilton & Renny Federal Credit Union in Honolulu, Hawaii with the $895 million Aloha Pacific Credit Union Federal Credit Union also based in Honolulu.