The NCUA said it approved 17 mergers in 13 states in August,bringing the total number of approved mergers to 172 so far thisyear.

The August merger number is lower than August 2012 when the NCUAapproved 24 mergers, according to the agency's monthly InsuranceActivity Report. This year's August merger number is alsolower than the 23 mergers in July and the 19 mergers June that wereapproved by the NCUA, the agency said.

Fourteen credit unions with less than $50 million in assets andone with $60 million in assets were merged out of existence, thereport showed. California, Virginia, North Carolina and Utah eachhad two mergers.

Though NCUA approved the merger of two credit unions with morethan $100 million in assets, one of those merger agreements hadbeen cancelled, according to the agency.

The $139 million USU Charter Federal Credit Union in Logan,Utah, merged with the $849 million Goldenwest Federal Credit Union in Ogden, Utah. The combinedcredit union will manage assets of nearly $1 billion and serve morethan 106,000 members.

The NCUA had approved the $168 million ICON Credit Union inBoise, Idaho, to merge with the $487 million Connexus Credit Unionin Wausau, Wis. Despite the approval, the merger was called off,Connie Miller, president/CEO of ICON CU, told Credit UnionTimes Wednesday.

Meanwhile, 13 of the small credit unions merged with largercounterparts to expand services to members, while two credit unionsconsolidated because they were in poor financial condition, theNCUA said. One credit union merged because of lack of growth andone consolidated due to the inability to obtain officials,according to the NCUA report.

The $9.1 million, 3,077-member Westco Federal Credit Union inGreensburg, Pa., which merged citing poor financial conditions,posted a net worth of 6.49% in 2012, far below the peer average of14.65%, according to NCUA financial performance reports.

From 2008 to 2012, Westco FCU posted declines in loan, fee andinvestment income, NCUA financial performance reports showed. Thecooperative recorded a net income gain of $34,889 in 2008, butposted net income losses of $108,859 in 2009 and $93,361 in 2010.In 2011 and 2012, the credit union had net income gains of $41,161in 2011 and $25,618 in 2012, according to NCUA data. Westco isexpected to merge with the $54 million, 10,222-member Westmoreland Community Federal Credit Union also inGreensburg.

Poor financial conditions forced the tiny $40,946, 210-memberSt. John's Ame Birmingham Federal Credit Union in Birmingham, Ala.,to merge with the $131 million, 18,770-member Alabama CentralCredit Union also in Birmingham, the NCUA report noted. St. John'sAme Birmingham CU had declines in loan, fee and investment incomeas well as net income losses from 2008 to 2012.

The $19.7 million A M Federal Credit Union in Gardena, Calif.,cited lack of growth for its reason to merge with the $366 millionSkyone Federal Credit Union in Hawthorne, Calif.

In 2003, A M Credit Union was serving 8,216 members but thatnumber dropped to 4,679 members by June 2013. Skyone FCU serves28,008 members.

A M Credit Union's lack of growth in membership resulted inreductions in loan, fee and investment income from 2008 to 2012. Inthose same years, the cooperative posted total net income losses ofmore than $2.4 million, its NCUA financial performance reportshowed.

An inability to find a qualified president/CEO compelled the $2million, 641-member North Andover Municipal Federal Credit Union inNorth Andover, Mass., to merge with the $22 million, 2,787-memberAndover Credit Union in Andover, Mass., the report revealed.

Other mergers of note included:

• the $17 million, 2,484-member Rome Credit Union in Royal Oak,Mich., with the $495 million, 50,479-member Community Choice CreditUnion in Farmington Hills, Mich.
• the $60 million, 10,927-member United Services Credit Union ofAsheville, N.C., into the $583 million, 40,111-memberSelf-Help Credit Union in Durham, N.C.
• the $4.2 million, 433-member Asheville Postal Credit Union inAsheville, N.C., into the $2 billion, 106,520-member Atlanta Postal Credit Union in Atlanta.