SALT LAKE CITY (8/7/14)--The Utah Credit Union Association reported three credit union mergers have occurred in the state this year as of Aug.1
The mergers took place on a voluntary basis, with all credit unions based in Utah.
The mergers include:
All employees of the acquired credit unions continue to work for their new credit unions. Existing locations have remained open, and service to members has not been interrupted.
There are now 70 credit unions based in Utah, and five others based outside Utah with at least one branch in the state.
While historical records aren't clear, the number of credit unions based in Utah peaked sometime in the 1970s, at more than 300, the league reported. More than 400 credit unions have existed at some point in Utah. In recent years, five or six Utah credit unions have merged each year.