LENEXA, Kans.— CommunityAmerica Credit Union here has announced plans to merge with Unify Financial FCU of Allen, Texas, in a deal that would span multiple states and create a nearly $10-billion institution.
According to the merger notice on NCUA’s website, the proposed vote by members is set for Oct. 31, 2025.
The merged entity, continuing under the CommunityAmerica name, would expand CommunityAmercia’s footprint into an additional 18 states, the St. Louis Business Journal said.
The $3.5-billion Unify made $32.4 million in net income through June of this year, and its net worth stands at 8.81%, according to Call Report data. The $5.4-billion CommunityAmerica made $21.5 million through June of this year with net worth at 10.16%.
Glenn Christensen, president and CEO of CEO Advisory Group, said the deal is another example of two strong credit unions joining forces for the best interests of their memberships.
"We are witnessing a increasing trend among large, strong credit unions to take a long-term strategic outlook on the challenges and opportunities facing financial institutions," Christensen said. "Leadership is recognizing that merger partnerships are the best, most economical pathway for gaining competitive advantage. Unifty has 1.8% ROAA YTD and operating expense/asset ratio of 3.42%, and a large national branch network. CommunityAmerica is also profitable with a 0.6% ROAA, yet has a higher operating expense/asset ratio at 4.96%. By combining operations these credit unions should realize operating efficiencies that will enable improved return to members. And, economies of scale will allow them to convert more bank customers to members."