ANNISTON, Ala.—Several more mergers have been announced by credit unions.
Among them, the $206-million Fort McClellan Credit Union and $13-million Northeast Alabama Regional Medical Center FCU, have agreed to merge. The merger will become effective Oct. 1. Fort McClellan will be the continuing credit union.
In a release, the board and management of Fort McClellan said the CU is “looking forward to serving the members of NEARMC FCU.”
In Holland, Mich., the $15-million Big Dutch Fleet Credit Union, which has nearly 2,900 members, has sailed into a merger with the $100-million Grand Rapids-based AAC Credit Union.
And in Richland, Wash., the $1.5-billion Gesa Credit Union is absorbing via merger the $15.7-million Northland Credit Union in Spokane, Wash. Members of NCU voted in favor of the merger in May.
“In this time of increased regulatory burdens in an unpredictable financial world, it becomes more and more difficult for a small credit union to thrive,” said Bill Roberts, NCU’s President and CEO. “The decision to merge with Gesa Credit Union, a financially sound organization, will benefit our members in ways that Northland is not able to accomplish on its own.” “
The merger agreement is a positive move for the Inland Northwest, Gesa’s members, and the members of Northland, said Don Miller, Gesa’s president and CEO. “We’ll be stronger and better able to compete in the financial services marketplace by diversifying our membership. Northland members will enjoy the benefit of expanded services and an extensive branch network throughout Eastern Washington. Together, we’ll be better able to demonstrate the credit union difference throughout the region.”
The NCU branch will become a branch of Gesa Credit Union and all NCU staff will join Gesa, as well.