ALEXANDRIA, Va. – NCUA on Friday reported it approved just 11 mergers for December, most of them eliminating more troubled credit unions.

Among the troubled credits unions being merged out: Score FCU, a one-time $68-million, now $47-million, Tallahassee, Fla., credit union that lost $1 million for the first three quarters of 2012, which is being combined with $440-million Gulf Winds FCU in Pensacola; The Greater Norwalk Area FCU, a one-time $30-million, now $19-million, Norwalk, Conn., credit union that lost $232,000 for the first three quarters of 2012 and $474,000 for 2011, which is being merged into $74-million NEA FCU in Bardonia, N.Y.; and, East Central FCU, an $8-million Ada, Okla., credit union is being merged into $860-million Communication FCU in Oklahoma City.

Several small troubled credit unions were merged out, including $2-million NWNJ FCU in Denville, N.J., merged into Garden Savings FCU in Parsippany, N.J.; Sto-Rox Community FCU, a McKees Rock, Penn., credit union with less than $1 million in assets; Philadelphia’s AME Union FCU and ZOAR Methodist Church FCU, both with less than $1 million; and Holy Family Oglesby (Illinois) FCU, also less than $1 million.

 

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