Summary
This document is a guide provided by CU*Answers that outlines the process and considerations for credit unions looking to merge. It details the types of mergers available, specifically manual and automated mergers, and provides recommendations based on the size of the credit unions involved. For credit unions with fewer than 1,500 members, a manual merger is suggested, while those with more than 1,500 members are advised to consider an automated merger. The guide also includes information on training for new staff, scheduling for the merger process, and important considerations regarding pricing and deposits. Additionally, it addresses the necessary steps for data processing and integration of products and services from the merging credit unions. The document emphasizes the importance of communication with regulatory agencies and provides contact information for further assistance.
