Credit unions set to finalize mergers in 2020

The NCUA lists 12 proposed consolidations scheduled for member votes in January and February.

While members are set to vote on 12 proposed credit union mergers in January and February, four credit unions announced this month their members have given the green light for their consolidations to finalize in 2020.

The $54.9 million, 3,769-member Southwest Colorado Federal Credit Union in Durango, Colo. will merge into the $1.5 billion Credit Union of Colorado Federal Credit Union in Denver. Founded in 1958, Southwest Colorado employs 10 staff members.

The $31.7 million, 8,681-member Health Facilities Credit Union in Florence, S.C. will consolidate with the $1.8 billion South Carolina Federal Credit Union in North Charleston, S.C. Health Facilities FCU was founded in 1977 and employs 14 staff members.  Health Facilities President/CEO Robert Harris will continue in the role as a city executive once the consolidation becomes effective on March 2.

The $24 million, 3,247-member Turbine Federal Credit Union in Greenville, S.C. will merge with the $1 billion Self-Help Credit Union in Durham, N.C.  Turbine FCU, which employs eight staff members, was founded in 1976 as the Greenville Gas Turbine Employees FCU to serve General Electric employees.


continue reading »