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.