CUT: NCUA Approves 32 Mergers in 2nd Quarter

Last week, the Credit Union Times (CUT) reported that mergers approved by the NCUA in the second quarter of 2019 totaled 32, slightly higher than the 29 mergers approved in the first quarter but substantially down compared to the second quarter consolidations over the last five years.

The report went on to say, at the end of last year’s second quarter, the independent federal agency approved 47 consolidations, 51 in 2017, 47 in 2016, 72 in 2015 and 70 at the end of the second quarter in 2014.

According to the NCUA’s second quarter merger report for this year, 26 merger deals were approved for expanded services, while three consolidation agreements got the green light because of an “inability to obtain officials,” and one each for poor financial condition, lack of growth and loss or decline of membership.

To read the full CUT story click here.