Lobby of the NCUA.
Credit union mergers continued their upward pace with 41 consolidations approved by the NCUA during 2022's first quarter, higher than the 33 approved mergers during 2021's first quarter, according to the federal agency's Q1 Merger Activity and Insurance Report released last week.
In addition to the 34 credit unions that received the NCUA's nod to consolidate for expanded services, two credit unions got the OK to merge because of poor financial condition, two for inability to obtain officials, two for lack of sponsor support, and one for loss or decline of field of membership.
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