Restructuring could see as many as 100 credit unions merged by 2016

Up to 100 credit unions may seek to merge to secure their future over the next four years, according to estimates.

The country’s credit union sector is set to undergo major restructuring by the end of 2016, with a strengthening of branches — through mergers, consolidations, and significantly expanded product offerings — recommended by the Commission on Credit Unions.

While the commission has declined to comment on how many existing credit unions will be affected, it did say amalgamation and consolidation is on the cards.