The drumbeat of credit union industry consolidation continues.

So far in 2021, there were 39 mergers in the second quarter and 31 in the first quarter. That total of 70 in the first six months of the year is down one from the same point in 2020. In trailing one-year numbers – from June 2020 to June 2021 – there were 135 mergers.

Back in 1985, there were nearly 18,000 banks and thrifts in America and about 15,000 credit unions. As of June 30, 2021, there were 5,005 and 5,136, respectively.

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