This year there will be over 100 credit union mergers with other credit unions.
But there also will be mergers of credit unions with community banks and now is the time to start learning about what’s involved and what the payoffs are.
One big reason: probably half of the nation’s community banks are available to buy.
Another reason: for many reasons, many credit unions are hanging back, reluctant to take this plunge.
Part of the reason for hesitation is simple lack of information and on the show today is Michael Bell, Co-Chair of the Financial Institutions Practice Group at the law firm Honigman, the man who did the first credit union - bank merger in 2011 and who estimates that he has been involved in probably 90% of all credit union - bank mergers.
Bell knows what works, he knows why many of these deals never reach the finish line, and he also knows the payoffs for the institutions that in fact do close a deal.
The important fact about credit union - bank mergers: ultimately they are about money. That’s not so for many credit union - credit union mergers.
More credit unions with an eye on staying competitive will be eyeing doing deals with banks, predicts Bell.
This is a provocative show.
Listen up.
For more info on mergers, listen to our trio of podcasts with Peter Duffy - #274, a quick news flash in 2022, and episode 119.
Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com
And like this podcast on whatever service you use to stream it. That matters.
Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto
This year there will be over 100 credit union mergers with other credit unions.
But there also will be mergers of credit unions with community banks and now is the time to start learning about what’s involved and what the payoffs are.
One big reason: probably half of the nation’s community banks are available to buy.
Another reason: for many reasons, many credit unions are hanging back, reluctant to take this plunge.
Part of the reason for hesitation is simple lack of information and on the show today is Michael Bell, Co-Chair of the Financial Institutions Practice Group at the law firm Honigman, the man who did the first credit union - bank merger in 2011 and who estimates that he has been involved in probably 90% of all credit union - bank mergers.
Bell knows what works, he knows why many of these deals never reach the finish line, and he also knows the payoffs for the institutions that in fact do close a deal.
The important fact about credit union - bank mergers: ultimately they are about money. That’s not so for many credit union - credit union mergers.
More credit unions with an eye on staying competitive will be eyeing doing deals with banks, predicts Bell.
This is a provocative show.
Listen up.
For more info on mergers, listen to our trio of podcasts with Peter Duffy - #274, a quick news flash in 2022, and episode 119.
Like what you are hearing? Find out how you can help sponsor this podcast here. Very affordable sponsorship packages are available. Email rjmcgarvey@gmail.com
And like this podcast on whatever service you use to stream it. That matters.
Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto