Letters to Credit Union 10-CU-22 issued this month is for those credit unions interested in expanding their field of membership (FOM) by merging with another credit union.  Interested credit unions can now let the NCUA know by signing up for the new Merger Partner Registry.

According to 10-CU-22, the registry does not change the process for voluntary mergers between healthy credit unions.  Voluntary mergers may continue to take place without regulatory intervention.

The Registry does apply to two types of transactions in which healthy credit unions can acquire another credit union’s field of membership:

1)    Assisted merger of a troubled credit union, or;

2)    Purchase and assumption (P&A) of a liquidated credit union.

Related articles