Better together: Recent FAQs on mergers
Greetings Compliance Friends!
Following NCUA’s final rule on voluntary mergers earlier this year (covered in a previous NAFCU Blog), the NAFCU Compliance Team has received a number of merger-related questions on a variety of topics, so I thought it may be pertinent to merge round up a few for today’s blog. Here’s some food for thought before we get started:
Question 1 – If an individual is a member of both credit unions prior to a merger, will the amount of available share insurance need to be recalculated in their account at the surviving credit union?
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