The National Credit Union Administration approved 36 mergers in the second quarter, including seven designed to address challenges filling CEO or board positions.
The NCUA approved 33 mergers during the first quarter and 35 combinations a year earlier. Three mergers approved in the first quarter were meant to address succession issues.
The agency said that 26 of the mergers were announced to allow credit unions to expand services.
The biggest mergers approved during the second quarter were:
- The $2.1 billion-asset Spire Credit Union in Falcon Heights, Minn., and the $1.7 billion-asset Hiway Credit Union in St. Paul, Minn.
- The $808 million-asset SeaComm Credit Union and the $230 million-asset St. Lawrence Credit Union in Ogdensburg, N.Y.
- The $426 million-asset Argent Federal Credit Union in Chesterfield, Va., and the $93.7 million-asset Partners Financial Federal Credit Union in Glen Allen, Va.