JOHNSTOWN, Penn.–Credit unions in Hawaii and Pennsylvania have announced mergers.
In Pennsylvania, the $22.8-million JSTC FCU said its members have voted in favor of merging into the $101-million USSCO Jonston FCU.
“It’s a very good fit for us. The merger gives us stable growth, long-term financial security and the strength to continue to compete successfully in the market,” Todd Cover, CEO of USSCO, said in a press release.
The merger still requires regulatory approval, but the credit unions have targeted mid-2018 for completing the combination.
In the Aloha State, Hawaiian Airlines FCU has flown into a merger. The 3,114 members of the $22-million credit union, chartered in 1948, have voted in favor of merging into Hawaiian Tel FCU.
“It is a tremendous honor that Hawaiian Airlines FCU’s members voted overwhelmingly in favor of merging with Hawaiian Tel FCU,” says Hawaiian Tel FCU President Norman Okimoto in a statement. “We are excited and grateful for the opportunity to serve them.”
Hawaiian Tel said the entire HAFCU staff will remain, and will soon be operating out of a new location at the Hawaiian Airlines maintenance hangar.
The $607-million Hawaiian Tel FCU has more than 55,000 members.