Mergers of credit unions have become increasingly common since the end of the Great Recession, Laurendeau said, especially for Firefighters, which is completing its fourth acquisition in about as many years in the transaction with Sun.
“It's just very difficult for a small credit union to survive with additional regulatory burdens (and) aging memberships. ... There are a lot of forces that make it hard to survive,” he said. “We want to be an active player, and so this is part of our growth and expansion strategy.”
Monday, November 24, 2014
Firefighters Community Credit Union banking on Lorain County with latest addition - Cleveland Business News - Northeast Ohio and Cleveland - Crain's Cleveland Business
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