After years of experience helping credit unions navigate mergers and acquisitions, we have been struck by a unique trend taking place this year due to ongoing uncertainty in the marketplace. Let's simply call it the "year 2020 effect." Just like COVID-19, the upcoming elections, stimulus concerns/deliberations and more have impacted every aspect of our daily lives, they have also significantly impacted the M&A space.
|Deals Slow Down Today, Doors Open for the Future
We do still see some mergers happening in the credit union industry this year. However, they are predominately based on opportunities that had been in the works long before COVID-19 entered the scene.
Although credit union mergers have waned in the first few quarters of 2020, we have seen a surge in credit unions open to considering mergers as a part of their forward-looking strategies. This is especially true for those institutions that may have previously shied away from M&A discussions altogether.
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