Monday, February 6, 2012
Troubled Credit Union Mergers in 2011
NCUA approved the merger of 56 financially troubled credit union during 2011.
A merger is defined as a troubled credit union merger if the following three reasons are cited by NCUA when approving the merger: Poor Management, Poor Financial Condition, and Loss/Declining Field of Membership.
Nine mergers were due to Loss/Declining Field of Membership. Thirty-two mergers were due to poor financial conditions, while 15 mergers were the result of poor management.
The average asset size of the merger target was $16.5 million, while the median asset size of a troubled credit union was $6.2 million.
The largest troubled credit union that NCUA approved for acquisition was Synergy One with almost $183 million in assets.
A merger is defined as a troubled credit union merger if the following three reasons are cited by NCUA when approving the merger: Poor Management, Poor Financial Condition, and Loss/Declining Field of Membership.
Nine mergers were due to Loss/Declining Field of Membership. Thirty-two mergers were due to poor financial conditions, while 15 mergers were the result of poor management.
The average asset size of the merger target was $16.5 million, while the median asset size of a troubled credit union was $6.2 million.
The largest troubled credit union that NCUA approved for acquisition was Synergy One with almost $183 million in assets.
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