Through the first half of 2009 the credit union industry experienced 114 mergers, up slightly (4.6%) from the first half of 2008. Despite fluctuations in merger activity during recent years, the rate of consolidation in the industry has not dramatically changed. A consistent 3-3.5% of the industry has consolidated each year over the past 5 years. Because of the time it takes to initiate and complete a merger, the effects of any new merger dynamics generated by recent economic turmoil or fallout from Corporate Stabilization expenses, may not be observed for another 9-12 months.
