There are many misconceptions about credit unions and bank mergers, and they are usually negative. In fact, the result of these mergers is beneficial for both parties involved. These mergers are not a “hostile takeover” as some might believe; both parties have to agree to the terms, and it comes down to a majority vote on whether to merge or not. These mergers are common, and ultimately the goal is to expand and grow while keeping the “community feel” that credit unions offer. This infographic will outline some of the facts that fall within the credit union and bank mergers.
Even amidst the COVID19 pandemic, we are seeing lots of credit union mergers, including the credit unions with banks variety. The mergers even among credit unions are not new, and that is why it is a topic we often bring up – such as this credit union merger article or our blog entry on how bank mergers benefit credit unions. The important aspect that Oak Tree Business Systems, Inc. is interested in how these credit union mergers can affect the forms integration. If your credit union is going through a merger, or will be going through a a merger you can be confident in having us as your forms provider to help you with the transition, because we have helped many credit unions through this process.