Michael Bell
While credit union branch deals typically involve cash consideration for property, as well as a deposit premium, “I do believe there is an altruistic motive as well,” with sellers often concluding the buyers can better serve their members, Bell said.Â
Bell expects branch sales to occur more frequently, with credit unions that have shifted from employment-based fields of membership to ones that are geographically-oriented moving to exit markets that made sense once but are now distant from the core service area.Â
“Many credit unions do have odd footprints based on their historical genesis,” Bell said.
Sunward underwent a name change, from Sandia Laboratories Federal Credit Union, earlier this month.Â
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Publish date : 2024-11-26 12:43:00
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