CU-bank deals on pace to shatter all-time record volume

With 12 new deals pending, 2024 has already exceeded the 11 transactions announced last year.

Few issues raise the ire of community bankers as much as credit unions buying banks.

And with the halfway mark of the year right around the corner, 2024 is on pace to obliterate the previous high for credit union-bank deals announced in a calendar year.

“We will break the record this year,” Michael Bell, an attorney at Honigman, said in an interview. “We will eclipse 20 [deals] and land somewhere in the low to mid 20s.”

Bell, who estimates he has advised on more than 90% of credit union-buying-bank deals over the years, said current deal-chatter levels are unprecedented, and “barring an act of God or a black swan event,” 2024 will surely surpass the record 16 deals announced in 2022.


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