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News Now

CU System
Several mergers in the works
MADISON, Wis. (3/10/11)--Mergers continue to alter the competitive landscape for credit unions nationwide. Among the mergers in the works:
* Como Northtown CU, St. Paul, Minn., with $34 million assets, plans to merge with $270 million TopLine FCU, Maple Grove, Minn. * Cal State CU, with $90 million in assets, Santa Rosa, Calif., has filed to merge into Redwood CU, $1.7 billion in assets, also of Santa Rosa (California Department of Financial Institutions Monthly Bulletin March 8); * Guadalupe FCU, with $1 million in assets, Mountain View, Calif., has applied to merge into National 1st CU, $186 million in assets, Sunnyvale, Calif; * Motion Picture FCU, with $3.6 million in assets, Valley Village, Calif., has merged into Musicians’ Interguild CU, $78 million in assets, Hollywood, Calif; * Star Energy CU, with $5 million in assets, Bakersfield, Calif., has merged into Chevron FCU, $1.5 billion in assets, Oakland; * Putnam County FCU, Palatka, Fla., with $16 million in assets, is merging with First Coast Community CU, $73 million in assets, also of Palatka (Florida Trend March 1); * Trippler FCU, with $12 million in assets, Honolulu, will merge with $15 billion-asset Pentagon FCU, Alexandria, Va., according to the National Credit Union Administration; * Media Hawaii FCU, with $15 million in assets, Honolulu, will merge with $720 million Aloha Pacific FCU, also of Honolulu; * St. Margaret FCU, with $415,000 in assets, St. Louis, will merge with Anheuser-Busch Employees FCU, with $1.2 billion assets, also of the St. Louis; * West Haven V.A. Employees FCU, with $7 million in assets, and West Haven Municipal FCU, with $14 million in assets, will merge into Greater West Haven FCU, $5 million in assets, All three are based in Conn.; and * A-B CU, with $49 million in assets, Milwaukee, will merge with $168 million-asset Heritage CU, Madison, Wis.


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