PITTSBURGH–Two Pittsburgh-area credit unions are seeking to merge, while in Alabama one small CU has officially been merged into a larger credit union.
In Pittsburgh, the $114-million Riverset Credit Union is asking its 10,145 members to OK a merger with the $142-million Allegent Community FCU.
In a statement to its members, Riverset said, “This is a merger of two healthy credit unions that will benefit you. This partnership will provide access to more convenient branch locations, competitive loan and deposit rates, enhanced technology, and new products and services.”
Members are being sent a ballot by the end of July. If approved, the CUs said plans call for completion of the merger by Oct. 1. The combined CU would operate under the Allegent Community FCU name. Allegent has approximately 15,000 members.
Meanwhile, in Anniston, Ala., another small credit union has opted to merge into a larger institution, this time in Alabama.
The $3.7-million Brassies Credit Union said its 486 members have voted in favor of merging into the $467-million Family Savings Credit Union in Rainbow City, Ala. The merger was effective July 1.
Brassies CU had a community charter open to those who live, work or worship in Calhoun County.
The merged CU offers membership across 19 counties in both Alabama and Georgia via nine branches and access to a national shared branching network.