FORT WASHINGTON, Penn. — Two credit unions in Pennsylvania have announced a merger, while in Michigan members of one CU have now signed off on a previously announced combination.
In Pennsylvania, members of $712,000-asset Philadelphia Mint Federal Credit Union approved a merger with TruMark Financial Credit Union.
“TruMark Financial is eager to provide Philadelphia Mint Federal Credit Union members the same excellent service and quality products our current members experience,” said TruMark Financial CEO Richard F. Stipa in a statement.
The $2.1-billion TruMark Financial has approximately 117,500 members.
Michigan Merger
Meanwhile, in Novi, Mich., members of Vibe Credit Union have now voted in favor of a merger that will create a near-billion-dollar CU.
As CUToday.info reported here in April, the $544-million Vibe Credit Union and the $367-million Oakland County CU in Waterford, Mich. Said they were seeking to merge, pending member approval.
NCUA signed off on the deal in May.
Earlier this week the 32,000 members of Vibe Credit Union also gave their blessing.
Plans call for the merger to be completed in January of 2019, with Oakland County CU President/CEO Allan Kemp McMorris to serve as president of the merged institution, while Vibe CEO/President Tom Reagan will be CEO.
The merged CU will operate under the Vibe name and brand.
EDITOR'S NOTE: This story originally incorrectly reported the asset size and name of Philadelphia Mint FCU. The error has been corrected.