Issue 2_2022_VIEWpoint | Page 16

Exploring ways to expand geographical presence , enhance product and service offerings , and provide more competitive rates have caused many credit unions to turn to bank acquisitions as a source of growth . The industry has familiarized itself with credit unions merging with one another to accomplish just this , however , the trend of credit unions acquiring banks has become a hot topic of discussion .
Year-to-date , there have been eight completed bank acquisitions and seven announced , with an average of $ 429 million in target assets . With an increase in activity this past year , it ’ s important for your board and management team to understand the strategic opportunities available to them .

Exploring Strategic Opportunities

Why Credit Unions Acquire Community Banks

By David Milkes CPA , CFA Director of M & A and Strategic Services Doeren Mayhew
Exploring ways to expand geographical presence , enhance product and service offerings , and provide more competitive rates have caused many credit unions to turn to bank acquisitions as a source of growth . The industry has familiarized itself with credit unions merging with one another to accomplish just this , however , the trend of credit unions acquiring banks has become a hot topic of discussion .
Year-to-date , there have been eight completed bank acquisitions and seven announced , with an average of $ 429 million in target assets . With an increase in activity this past year , it ’ s important for your board and management team to understand the strategic opportunities available to them .
14 VIEWpoint Issue 2 | 2022