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NCUA approved 18 credit union mergers in December 2016

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NCUA approved 18 credit union mergers in December 2016

The National Credit Union Administration approved 18 credit union mergers in December, according to the agency's latest Insurance Report of Activity.

The NCUA listed "expanded services" as the reason behind 14 of the mergers. Two mergers were attributed to "poor financial condition," one was because of "loss/declining field of membership," and one merger was due to "inability to obtain officials."

The merging credit unions had a total of approximately $1.65 billion in assets, according to the report.

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