Why so many mergers?

first_img 23SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr While financial problems may move credit unions to merge into a larger partner, that’s not the only reason the movement is seeing so many new combinations.Other common merger motivations are technological advancement and consumer expectations, says Jim Kasch, founder of Canidae Consulting. Mergers also come about to help institutions more successfully compete in the marketplace and comply with regulations.Another important factor Kasch cites is that a large number of CEOs and board leaders are retiring. Rather than replacing those leaders, some credit unions look to merge.Among smaller credit unions, in particular, there’s a concern about being able to compete for top-quality people, Kasch says.It has become harder and harder to attract directors, as the national volunteer problem escalates. And being a credit union director is challenging. continue reading »last_img read more