TORRANCE, Calif. and ROSELAND, N.J.–Two credit unions headquartered on opposite coasts said they are merging.
The $2.3-billion UNIFY Financial Credit Union (UNIFY) and the $65-million ADP Federal Credit Union (ADPFCU) reported they have received all approvals to combine the two organizations, with ADPFCU members approving the merger at a Special Member Meeting near the end of December 2016. The conversion of ADPFCU accounts to UNIFY, the continuing credit union, is planned for the second quarter of 2017, the two CUs said.
The credit unions said the merger will provide ADPFCU members with significant benefits, including access to more than 50 branches throughout the country, a 24/7 telephone Contact Center, and the latest banking technologies. ADPFCU’s two branches, in Roseland, N.J., and Alpharetta, Ga., will remain open, and staff will remain with UNIFY.
“This merger partnership provides the opportunity for our credit union to take a significant step forward in our future growth and long-term success to benefit our members,” said ADPFCU President and CEO Rick Herbert in a statement. “Not only is UNIFY a great operational and cultural fit, the merger will significantly expand the products and services available to our members as well as provide multiple resources for members to conveniently manage their accounts, anytime, anywhere.”
UNIFY CEO Gordon Howe added, “We are excited about our partnership with ADPFCU and the opportunity to bring its members new products, technologies and convenience from their credit union. Both credit unions are committed to a shared vision of providing members with top-tier products and services, while keeping the personalized service the credit union has always delivered through its outstanding staff. We have great respect for the ADPFCU team, and look forward to working with them through the integration process and beyond.”