In a recent article from the CEO Advisory Group, Key Considerations in Merger written by Richard Gallagher, CEO of Oak Tree Business Systems, Inc., explains the fundamentals of what it takes for a merger to be finalized. Here is an excerpt from the article:
"To make the merger process as smooth and seamless as possible, it is crucial to work with a competent credit union forms provider. Forms should be up to date and compliant with necessary state and federal regulations. In addition, your forms provider should have partnerships with different core processors. This may help your credit union on stay on track with project plan."
There are a lot of approvals that will need to be made and a lot of back in forth to make sure that everything is set and done correctly. The NCUA has some very particular steps that each credit union must follow. So following the steps helps insure a smooth process while also being on top of all the paperwork as needed. To continue reading this post, head over to the blog post by the CEO Advisory Group.