ALEXANDRIA, Va. – NCUA yesterday reported it approved the merger of troubled L.C. School Employees FCU, a $27-million Gary, Ind., credit union that lost $1 million through the first nine months of the year, into $2.2-billion Teachers CU, South Bend, Ind.
Among other troubled credit unions approved for merger were: AgFirst FCU in Columbia, S.C., into Carolina Collegiate FCU; Health Care Professionals of Napa FCU into Community First FCU; Preferred Financial FCU, Wilmington, Del., into Community Powered FCU in Newark, Del.; NorthCountry Cooperative FCU, Minneapolis, into South Metro FCU in Prior Lake, Minn.; and, Dallas TxDot, Mesquite, Texas into America’s CU in Garland.
NCUA also approved mergers of several healthy credit unions, including Merrimack College FCU, North Andover, Mass., into Merrimack FCU in Lawrence; Mainstreet Financial FCU, Denham Springs, La., into Jefferson Financial FCU in Metairie; Mercy FCU, Miami into JetStream FCU in Miami Lakes; and, Niagara Mohawk Power Mohawk Division FCU, Gloversville, N.Y., into Fulton FCU in Gloversville.