Over the past 5 ½ years there have been approximately 1,411 mergers.
We have compiled these mergers by year and by asset size. (Note the data was
assembled at the time of the merger approval-some of the financial data may
be slightly different at the actual merger date.) Click
here to view a table with this merger data. For a listing of all credit
unions with over $50 million in assets that have merged over the past five years,
The data shows no clear trends. For example in 1999 there were 393 with the
lowest total two years later with 230 in 2001. But the number jumped up again
in 2003 to 267. Y2K concerns may have contributed to the pace of mergers in
The rate of mergers (as a percentage of credit unions active at the beginning
of the year) has hovered between 2.21% of credit unions in 2002 to 3.53% in
1999. For 2003, total mergers were 2.78% of the number of credit unions year
active on January 1 of that year.
So far in 2004 there have been 91 announced mergers, a slightly higher pace
than in 2003.
Analyzing the five-year totals of mergers by asset size, there is a slight
increase in the proportion occurring in larger asset categories. However this
increase may be nothing more than the growth in the average credit union size
during this time.
Twenty-one credit unions over $50 million have merged during these five years.
This total is only 1.5% of all 1,411 mergers and suggests that larger credit
unions prefer to remain independent. The biggest merger to occur in credit union
history was the TRW Systems FCU ($490 million) with Western FCU ($479 million).
Callahan’s Peer-to-Peer software contains complete financial information
for every credit union. Using this program any credit union can “merge”
any other credit union’s data and see what the impact on key ratios would
be. For more information on this application or peer, please click