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NCUA approved 20 credit union mergers in August

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NCUA approved 20 credit union mergers in August

The National Credit Union Administration approved 20 creditunion mergers in August, according to the agency's latest Insurance Report ofActivity.

The NCUA listed "expanded services" as the reasonbehind 13 of the mergers. Three mergers were attributed to "poor financialcondition," two were attributed to "lack of growth," one wasbecause of "lack of sponsor support," and one merger was due to"inability to obtain officials."

The merging credit unions had a total of approximately$414.5 million in assets, according to the report. 

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