Mergers continue on in both the Credit Union space and the Bank space, and sometimes between the two spaces.
Will we see the pace of consolidation increase under the new administration?
How many financial institutions is the right amount of financial institutions for the US?
Although, to be fair, not all of the mergers announced in Q3 were strategic, some were forced due to poor performance, etc.
One item of note, is that we seem to be seeing more "larger" asset size credit unions choosing to merge.
"During the third quarter, 49 credit unions received the approval to merge, up from the 46 consolidations in Q2 and 26 mergers in Q1, according to the NCUA's Q3 Merger Activity and Insurance Report released on Wednesday."
"Six credit unions got the OK to consolidate due to poor financial condition; two for poor management; and one for inability to obtain officials. Forty credit unions got the green light to merge for expanded services, the federal agency's report showed."
#creditunions #mergers #ncua #consolidation
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