Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Merger database launch valuable for CUs CUNA
ALEXANDRIA, Va. (10/22/10)—The Credit Union National Association (CUNA) on Thursday commended the National Credit Union Administration (NCUA)for launching its credit union merger partner registry, which was highlighted at the agency's Board meeting Thursday.
Click to view larger image The NCUA's merger registry site will allow credit unions to search for potential merger partners
The registry provides the names of potential credit union supervisory merger partners and allows interested credit unions to search for potential merger partners nationwide or limit the search to within certain states or counties. Searches may also be limited to within a certain radius of a given address. The registry was strongly recommended by the Credit Union National Association's Mergers Issues Working Group, chaired by Ohio Credit Union League President Paul Mercer. NCUA officials during the meeting said that the merger database would provide a “good starting point” for credit unions that wish to merge “but don’t know where to start.” NCUA Chairman Debbie Matz cautioned that not all merger database participants would be selected for mergers. The merger registry and the overall merger process will also be discussed in a pending NCUA letter to credit unions. The NCUA also reported on the status of troubled credit unions during its monthly insurance report. While many of the statistics were similar to those reported last month, the NCUA reported that the total number of CAMEL Code 4/5 credit unions increased by 14 and the number of CAMEL Code 3 credit unions increased by 16 since last month. However, NCUA Chief Financial Officer Mary Ann Woodson noted that one of the new CAMEL Code 3 credit unions was a former Code 4/5 credit union that improved its financial condition. Overall, just over 18% of total insured shares are held in CAMEL 3 credit unions, and 5% of those same shares are held in CAMEL 4/5 credit unions, Woodson added.
Other Resources

RSS print
News Now LiveWire
In just over a year, @SaveToWinWA generates more than $1M of savings in 6 #creditunions http://t.co/rszMd0SZVv
7 hours ago
Even the pest guy is a cybersecurity risk: http://t.co/Tqq4qfOgcq
8 hours ago
.@SCTelco_FCU among best places to work in S.C. via @TheCCUL http://t.co/PJnjOArfm8
10 hours ago
#IceBucketChallenge in D.C. today: @HampelBill with help from some @CUNA staff http://t.co/3iOqE2KSjd
11 hours ago
P2P mobile payments draw millennials' interest via @BloombergNews http://t.co/uoO2anjCsV
13 hours ago