It continues to getting more lonely as a very small credit union (we at just over $2 Million at Queen of Peace Arlington FCU http://www.qpafcu.com/ ). Several small credit unions, where I have known the manager/CEO, have hit the credit union trade press with NCUA liquidating the credit union as “insolvent” with not hope of returning to financial soundness.
As local and nearby small credit unions disappear (liquidation, voluntary merger, or NCUA ‘assisted’ merger), the importance of statewide, regional and national affiliations becomes more important.
For its part, the National Credit Union Administration (NCUA) seems to be trying, in some degree anyway, to offer assistance to small credit unions. In the last month, I attended an NCUA workshop in Richmond and a CEO “Bootcamp” for small credit unions in Alexandria.