The credit union industry has averaged one merger per business day since 2000. This activity is accelerating with the challenges of scale, marketplace competition, tight margins and increased regulatory and compliance requirements.
Among the biggest issues facing credit unions when considering mergers is simply how to do it to ensure all of the bases are touched in a timely and regulatory compliant manner. What will be the continuing field of membership? What about the Board structure? Does the Hart-Scott-Rodino anti-trust provisions apply in a credit union merger? When should the notices to members be sent? Do the notices have to be pre-approved by the regulators? Can state and federal charters merge? What is the impact of the 2018 NCUA merger disclosure rule?
Dollar Associates assists credit unions seeking to merge with an identified credit union partner every step of the way – from initial negotiations to final merger disclosure documents.
While the due diligence of whether a merger is right for your credit union can only be handled by credit unions involved, the merger process itself must be done properly or the due diligence of a potential merger can be undone.
Dollar Associates has worked on over 200 mergers and can provide a credit union with the amount and level of support and consultation needed to make the merger successful. We will tailor our services to your credit union’s specific needs and provide the level of expertise and guidance appropriate to help your merger become a reality.