Skip to main content

Kinecta and NuVision Announce Plans to Merge

NationalMortgageProfessional.com
Jun 06, 2011

Kinecta Federal Credit Union and NuVision Federal Credit Union have announced that they have filed an application with the National Credit Union Administration (NCUA) to merge the two credit unions. The Boards of each credit union approved moving to the next phase of the merger process after extensive due diligence confirmed the added benefits a combined organization will bring to their collective members, sponsor companies and communities. The merger will immediately expand each credit union’s branch/ATM network with 51 branches and 112 ATMs, primarily throughout Los Angeles and Orange Counties, as well as bring members a wider choice of products and services. Longer term, the economies of scale of a larger organization provide added resources to expand branches, products, member service initiatives and electronic delivery channels. “We’re excited to take the next step toward bringing two successful organizations together to deliver better service and convenience to our members, sponsor companies, employees and communities,” said Darryl Johnson, chair of the board of Kinecta Federal Credit Union. “Not only will this merger bring members more branches and products, it will build an even stronger foundation for long-term success.” Roger Ballard, currently joint chief executive officer of Kinecta and NuVision, will become CEO of the new combined organization, which will retain the Kinecta Federal Credit Union name and charter. Pending regulatory approval, the merger will be put to NuVision member vote. “Submitting our formal merger application moves us closer to creating a stronger, more competitive credit union that will bring our members greater value than either of us can as independent organizations,” said Robert Geraci, chair of the board of NuVision Federal Credit Union. “The due diligence process reinforced our belief in the benefits of this merger, with even more synergies than expected between our goals and organizations.”
Published
Jun 06, 2011
Home Builder Confidence Dips Due To Inflation And Supply Chain Concerns

Home builder confidence in the market for newly built, single-family homes fell by one point to 83 in January 2022, according to the National Association of Home Builders and Wells Fargo's Housing Market Index report.

Construction
Jan 18, 2022
Milo Releases First-Ever U.S. Crypto Mortgage

This will make it easier for crypto investors to purchase U.S. real estate.

Industry News
Jan 18, 2022
Total Expert Hires John Emerick As CFO

Emerick served as CFO for two rapidly growing software-as-a-service companies: Code42 and CyberGrants.

Industry News
Jan 18, 2022
Home Partners Of America Launches Choice Lease Program

Home Partners of America launched its Choice Lease program aimed at addressing the affordable housing crisis and mortgage access challenges, that are faced by low-to-moderate-income families and underrepresented communities.

Industry News
Jan 17, 2022
KBRA Assigns Preliminary Ratings To OBX 2022-NQM1 Trust

Kroll Bond Rating Agency assigned preliminary ratings to six classes of mortgage pass-through notes from OBX 2022-NQM1 Trust, a $556.7 million non-prime RMBS transaction.

Non-QM
Jan 17, 2022
Zillow: Black Mortgage Applicants Denied 84% More Often Than White

Zillow recently analyzed data from the Home Mortgage Disclosure Act and found that Black mortgage applicants are denied a mortgage 84% more often than white applicants.

Analysis and Data
Jan 13, 2022