Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Mergers Announced By CUs Across the Country
MADISON, Wis. (2/15/13)--Several credit unions nationwide have recently announced mergers or intentions to merge.

They include:

  • Houston-based El Paso Corp. FCU (EPCFCU), with $121 million in assets, announced plans to merge into First Service CU in Houston, with $331 million in assets, First Service said in a press release Wednesday. The merger is tentatively scheduled to be completed this spring, pending regulatory approval and a passing vote by EPCFCU members. The combined organizations will continue as First Service CU and will have roughly $450 million in assets.
  • The boards of Mendo Lake CU (MLCU) in Ukiah, Calif., with $123.4 million in assets, and Fort Bragg (Calif.) Community FCU (FBCFCU), with $30.6 million in assets, have signed a memorandum of understanding for FBCFCU to merge into MLCU, pending a vote by FBCFCU members (lakeconews.com Feb. 8). MLCU will be the continuing credit union.
  • The $209 million asset National 1st CU in Santa Clara, Calif., requested approval last month from the California Department of Financial Institutions (DFI) to merge with San Jose (Calif.) CU, with $141 million in assets, according to the DFI's January Monthly Bulletin.
  • Milestone CU in Birmingham, Ala., with $20.2 million in assets, has merged into Tuscaloosa, Ala.-based Alabama CU, with $517 million in assets, effective Feb. 1 (The Birmingham News Feb. 10).
  • The $39.1 million asset Premier Source CU in East Longmeadow, Mass., has applied for permission to acquire Wemelco in Springfield, Mass., with $31 million in assets, according to the Massachusetts Division of Banks January Activity Report.
  • Preferred FCU in Greenville, Mich., with $51 million in assets, is proposing a merger with $88 million asset Grand Valley Co-op CU in Grand Rapids, Mich., according to Preferred FCU's website. The continuing entity would be Preferred CU. The merger is contingent upon membership and regulatory approval.


RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
8 29 ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
8 29 ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
8 29 ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
8 29 ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
8 29 ago