The NCUA is working on making changes to the process by which it undertakes mergers and purchase and assumptions but will continue to not allow all potential partners review proposals, NCUA Chairman Debbie Matz said in a letter to NAFCU President/CEO Fred Becker.
Matz said the agency's "uniform merger process" might include creating a national registry of potential merger partners.
She noted in the letter dated Feb. 22 and released recently by NAFCU that it is often feast or famine when it comes to attracting potential merger partners. In one case, after the agency invited 60 credit unions to make proposals, only two conducted due diligence and only one made a proposal. In other instances, the agency had "more interested parties than we can reasonably accommodate within limited time frames or space availability."
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