Community CPS Australia, established in 2006 via the CPS Credit Union SA and CPS Credit Union Co-operative ACT merger, yesterday announced further expansion plans, with United Credit Union agreeing to merge.The new entity will have an unusually geographical diverse member base as CPS currently operates in South Australia, Australian Capital Territory and regional New South Wales.West Australian-based United will spread the CPS membership base even further, smoothing future profit movements compared to some more geographically locked competitors.The new entity will have $2.2 billion in assets under management, with 175,000 members. Some $360 million of additional funds will be held under advice through a wealth management subsidiary.The residential lending book will swell to $1.67 billion, becoming the fifth largest credit union residential lending book behind market leader CUA,which held $5.88 billion as at September 2007 according to data published in the InfoChoice / The Sheet mortgage study, State of Play.Australian Central, with $2.06 billion in mortgages, is the second largest. Savings & Loans is third with $1.85 billion, followed by Police & Nurses with $1.72 billion and MyState Financial with $1.2 billion. NSW Teachers is the only other credit union to maintain a mortgage book above one billion, standing at $1.09 billion.One of the shortest reigns in charge of a credit union appears to be ending, with Stephanie Black - chief executive officer at United since January, unsure of her next step."It's been agreed that Kevin Benger will be chief executive officer of the merged entity."We don't know what the structure will be in Western Australia, but my position probably won't exist."Black will remain with United until at least August to complete the merger, with plans beyond that unspecified.