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NCUA approved 18 credit union mergers in November

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

The NCUA listed "expanded services" as the reason behind 12 of the mergers. Three mergers were attributed to "poor financial condition," two were chalked up to "loss/declining field of membership," and one was due to "lack of sponsor support."

The merging credit unions had a total of approximately $426.5 million in assets, according to the report.

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