In an article written by Richard Gallagher, CEO of Oak Tree Business Systems, Inc. exemplifies the true fundamentals of form integrations and credit union mergers. Ever wonder what the key is to surviving the credit union industry or what to do when any document changes occurs? Find out more by reading the full article on CEO Advisory.
"When credit unions merge, forms and disclosures integrate from under the umbrella of the surviving credit union. Even if the non-surviving credit union keeps the same name, forms will need to be addressed as they will now be a member of the surviving credit union family. So what does this mean for your forms? There will be changes...Mergers are increasingly becoming more common. Just last year we saw the number tick up. In June of 2018, the NCUA approved 14 mergers. By September, that number jumped to 22. It is best to be prepared with information, should you find yourself in the middle of a merger this year."
With the industry changing every so often to accommodate all the mergers and form changes, staying on top of all the paperwork is a must and should be done quite often. Be sure to take a look at the full article HERE and let us know if you have any questions.