Since January 1, 2023 at least 37 banks have either been acquired or have made plans to be acquired by a credit union. (The list seems to grow daily.) Some of the acquiring credit unions are repeat customers, gobbling up…
Credit Union Growth Unchained
Whether offering teaser rates to increase membership, opening new branch offices, or acquiring smaller rivals, our nation’s credit unions are growth-driven. In fact, 50 credit unions with 25% or more growth in assets during 2023 can be found on page…
More Bank Regulation Means More CUs Buying Banks
Since the beginning of 2022, 20 credit unions have completed bank acquisitions; several more acquired just branches. More bank regulations only serve to compound this phenomena. Page 5 of this week’s Jumbo Rate News includes the 20 credit unions that acquired…
More Banks Selling to C.U.s than Ever Before
Last May (JRN 39:20), we reported that regulators were becoming more critical of CU-bank acquisitions. At least one such deal was cancelled in 2022 as a result. 4-Star Vystar CU, Jacksonville, Florida, unable to get any state or federal regulator…
Credit Union Industry’s Growing Footprint
As the nation’s banking industry continues to contract, losing more than 3,000 branch offices in the 12 month period ending March 31, 2022 (JRN 39:27), credit unions are growing their presence, albeit slowly. During the same 12 month period, federally-insured…
Some CUs Bank on Bank Deals, Most Don’t
On May 12th, 5-Star DFCU Financial, a $6.456 billion credit union headquartered in Dearborn, MI, announced it will enter the Florida market with the purchase of 4-Star First Citrus Bank, Tampa. First Citrus Bank has $660 million in assets and…
Nine Pending Bank Acquisitions by CUs
When we last reported on Credit Union-Bank acquisitions in April (JRN 38:16), we said they were heating up, and they sure have. The third quarter was particularly active. One such transaction involves JRN listee 5-Star Financial Federal Bank, Memphis, TN,…