It depends on your loans.
Is there a cost to clearing the bank/CU loan early? If so, what is it?
For the consolidated loan, can you make accelerated payments.... in other words... Any costs for clearing it early?
If you can answer no to all the above, then it would make economic sense to move.
Say you have two loans, one at 9.3% and one at 7.3%. Should they be for the same amount, with the same payments being made towards them, guess which will cost more?
With the two individual loans your monthly outgoings will be more than with the consolidated loan. If you can pay as much off the consolidated amount as you’re currently paying out you'll clear the balance in a shorter term and with financial savings. It's only by reducing the monthly payments and taking the money over a longer term that you'll find a lower % is costing you more.
For a closer look try
http://www.drcalculator.com/ or any other online loan calculators.
If costs are associated with the clearing of the loan be sure to factor these in when crunching the numbers.