Organizations combining in order to better serve their collective membership while creating a viable and successful future for the organization.

"Both companies are prosperous and successful and will be even more so as a result of the merger. We’ll benefit from economies of scale and economies of scope and will be able to immediately provide more and better service to all our members.”
Mary McDonald, President and CEO, USA Credit Union

“Consolidation of two healthy credit unions is good business sense”
Dianne Addington, President and CEO, T&C Credit Union

“More and more credit unions are recognizing that they can strategically position themselves to better serve their members through mergers. The credit unions gain the ability to expand with more branches, build capital, attract and retain quality staff and leadership, enhance buying power, diversify their portfolio and membership, and offer additional products and services for members—positioning the combined credit unions for greater success than each could achieve individually.”
C. Alan Peppers, President and CEO, Westerra Credit Union

Throughout the Credit Union System, the number of credit unions continues to decrease, while assets and members continue to increase though at a slower pace than in the past. Economic pressures have forced all businesses, including credit unions, to take a realistic view of their products, performance and long-term viability or success strategies. Credit unions, especially small and mid-sized credit unions, are finding it increasingly difficult to compete in today’s marketplace.

By the year 2012, many industry experts estimate that the Credit Union System will have 200 credit unions with assets greater than $1 billion. These 200 credit unions will control 51% of the total Credit Union System assets and 42% of the total Credit Union System members.

Credit unions will need to create the necessary economies of scope and scale to effectively compete in this changing environment. As an example, banks hold 15 times more assets than credit unions. We must find ways to generate new revenue opportunities, partner with more credit unions, expand into new markets and communities, attract the next generation of borrowers and savers, and gain operational efficiencies through aggressive expense management and technology, just to name a few. Mergers enable credit unions to do just that.

Nice knows that mergers can be a sensitive subject and that the merger conversation can often be difficult one. Nice helps your organization navigate the difficult path of opening discussion around questions such as "Why should our credit union merge?" "How do you get the Board of an organization to agree to merge with another?" and "What do we do about staff, CEO's and the other duplicate assets that our merging organizations may have?"