Mergers can be a lengthy and complex process, and with some much going on, notifying vendors can end up taking a back seat. Melissa Hammel stresses the importance of communicating with your data processing partner early on and keeping them informed down the line.
On Tuesday, August 30th the members of Las Vegas UP Employees Federal Credit Union of Las Vegas, Nevada voted to merge with WestStar Credit Union also of Las Vegas, Nevada.
NAFCU and NASCUS both submitted comments to the NCUA ahead of their August 16th deadline for submissions calling for changes in merger policy and regulatory oversight, Emily Claus reports.
Maine Harvest Federal Credit Union has announced it will be merging with other Five County Credit Union—only two years after its much-publicized opening. Emily Claus dives into the reasons behind the merge.
Your Marketing Co. CEO Bo McDonald responds to Todd Marksberry’s recent article on mergers, and argues that merging should be the last resort for financially viable “boutique” credit unions. Foresight and a solid succession plan should be the first order of business to protect the interests of the credit union’s members, instead of its managers.
Credit union mergers have received a lot of negative attention in recent years. Canvas Credit Union CEO Todd Marksberry argues that mergers can be both a viable growth strategy and a means of better serving credit union communities.
Northern Hills Federal Credit Union, who has been proudly serving their members since 1950 and Sentinel Federal Credit Union, who has been serving their members since 1955, announced today that they are expanding their legacy of service, and will be seeking regulatory approval of their Board approved intent to merge.
Does the disappearance of the “small” credit union signal bad things to come for the industry? Chip Filson looks at the trends and suggests setting our sights back on the small to restock the pond.
A hearing on consolidation in the financial services industry will feature the perspective of the American Bankers Association, which has warned about the impact of credit unions purchasing banks, reports David Baumann of the Washington Credit Union Daily.