Merger brokering is the comprehensive guidance, consultation and facilitation that makes a member-centric, people-focused merger move from initial relationship building, through deal making and organizational merging, and finally produces a strong, new, combined organization.

75% of mergers don’t achieve their desired outcomes, not because the potential is lacking, but because the merger is not effectively executed. The potential of good mergers is high, but unfortunately, of the over 300 credit union mergers every year, many don’t reach their true potential or desired outcomes. Many other explored mergers in credit unions, in spite of their high prospects, fail to ever progress. Most credit union mergers that fail do so because mistakes are made in the merger process – especially in the people aspects of the merger. These failures are most commonly caused by poor communication and culture clash – which can be overcome or avoided through effective merger brokering.

When mergers are done correctly they bring together the best from both organizations. The process of effectively merging involves winning the hearts and minds of everyone involved, based on a shared understanding of why the merger is good for all parties – first and foremost the members. Great mergers bring together two credit unions with common intangibles (the “people stuff”) and complementary tangibles (branches, markets, assets, etc.). In the process of bringing the organizations together, extensive work is required to fully plan, execute and manage all of the moving parts – so the desired outcomes of each of the 28 stages of the merger can be achieved.

Nice’s member-centric approach to mergers follows a proven, methodical approach that leverages best practices developed over decades of experience. Nice has worked on some of the highest profile mergers in the country and brings to the table keen insight into the various phases of the merger. These phases include: the “art of the deal,” uniting CEOs, creating agreements between Boards, guiding extensive communications with the credit unions’ membership and staff, and assuring that each step is effectively executed in the right order and with the right timing so both organizations move in “lock step” throughout the merger process.

The final outcome of this planned implementation approach are two credit unions that come together around a shared vision for the new, combined organization and diligently work to make the new credit union highly effective in serving its broader member base.