Once-rare credit union acquisitions of community banks are becoming routine and a defining feature of consolidation in U.S. finance, according to a new article.
Details: As reported by Tyfone:
A growing pace of these acquisitions in Florida and Illinois is part of a national shift, with a historically high 16 deals announced last year following 2024’s record 22.
-
As these deals proliferate, community bank opposition led by ICBA is focusing on inequitable tax policy and credit union mission creep.
More Media Scrutiny: The article continues a series of articles scrutinizing credit union policies, including:
-
A December Open Banker op-ed from ICBA breaking down its data analysis on how credit union acquisitions harm consumers and local communities.
-
An American Prospect article detailing how some credit unions are taking advantage of their industry’s tax and regulatory exemptions to stray from their roots and acquire tax-paying competition.
-
A Tyfone op-ed from ICBA Past Chairman Brad Bolton and ICBA leadership community banker Ken Hale spotlighting why policymakers should examine credit union acquisitions of community banks.