MIDDLETOWN, Penn.—NCUA has approved the merger between Mid-Atlantic Corporate Federal Credit Union and First Carolina Corporate, according to a joint release from both CUs.
The North Carolina state regulator has also approved the merger. When the merger takes place, the new combined corporate will operate under the North Carolina state charter, the release stated.
On July 22, Mid-Atlantic Corporate and First Carolina Corporate said they will mail merger ballot packets to their respective memberships. The ballot packets contain several informational documents
regarding the merger, including an FAQ document, combined financials and a ballot for member
credit unions to vote on the merger.
The ballot must be signed by a credit union officer in order to be valid. Both corporate’s teller
of election must receive the ballot by 5 p.m. ET on Friday, August 12, 2016.