As credit unions continue to scale by aggressively acquiring community banks, industry experts are questioning whether their size is becoming an enforcement gap and raising concerns that they are failing to uphold their mandate to serve people with limited financial resources.
This criticism comes after the San Francisco Federal Credit Union, a member-owned financial company with $1.3bn in assets, plans to acquire Summit Bank, which holds $287mn in assets across three central Californian branches. The acquisition is scheduled to complete in the first quarter of 2026.