BETHLEHEM, Penn.–Two Pennsylvania credit unions said they are seeking to merge.
The $1.29-million Jay Bee Employees FCU, which has just under 200 members, said it is seeking to merge into the $1.2-billion First Commonwealth FCU in Allentown.
Jay Bee Employees FCU serves employees and families of Just Born, Inc., the confectionaries behind Goldenberg's Peanut Chews, Hot Tamales, Mike and Ike, Peeps, and Just Born Jelly Beans.
Jay Bee Employees FCU had $1,043 in net income during the first quarter, with net worth of 14.18%. First Commonwealth posted $1.23 million in Q1 net income to go with capital of 10.11%.
‘Delighted to Join Forces’
"We are delighted to join forces with this fantastic 100+ year old organization that has been a pillar of excellence in the Lehigh Valley,” Donna LoStocco, president, and CEO of First Commonwealth FCU, said in a statement. “By combining our resources and expertise, we will be able to provide comprehensive banking services to an even wider range of members, ensuring their financial success."
The merger is still pending regulatory and member approval.
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