WATERVILLE, Maine–Credit unions on opposite coasts have announced mergers.
In Maine, the $94-million New Dimensions FCU said it is absorbing via merger the $63-million Taconnet FCU in Winslow.
The merger adds four branches to New Dimensions in Skowhegan, Winslow, Waterville and Winslow, respectively. The credit union said it will also be building another branch in its markets.
“The merger will enable us to offer the most innovative technology through the products and services we provide,” said Ryan Poulin, CEO of New Dimensions, in a released statement. “Our focus is to keep up with the always increasing demand our members continually state is a necessity in today’s online financial environment. By providing what they have asked for we are also ensuring convenience, stability, and reliability—while maintaining that courteous customer service standard they have come to know and expect from us.”
Meanwhile, in Livermore, Calif., UNCLE Credit Union said it has received regulatory approval to merge in Stockton, Calif.-based Allied Trades Credit Union. Full systems integration is scheduled for completion by July 1. It is the second merger of a Stockton-based credit union for UNCLE in about three months.
The approved merger petition cited “expanded services” as the reason for the merger. The $403-million UNCLE previously had expanded its field of membership to anyone who lives, regularly works, attends school, or regularly worships in Alameda, Contra Costa, San Joaquin, or Stanislaus Counties, a geographic area totaling 4.1 million people per current U.S. Census estimates.
UNCLE CU has approximately 23,450 members.
The $26-million Allied Trades CU was serving employees and contractors of six Stockton-area employers: Dignity Health, Omni Healthcare, Greyhound Lines, Inc., Golden Gate Bridge-Highway and Transportation District, Owens Illinois, Inc. and International Paper. In addition, members of nine local employee unions and the Independent Order of Foresters were also served by Allied. Allied Trades has approximately 1,900 members.
UNCLE CU said it has taken a focused approach to the Stockton market. “We are excited by the opportunity to participate in Stockton’s revitalization” said Harold Roundtree, UNCLE president/CEO, who is leading his management team through the integration. “Our objective is to provide this community with a package of services that provide the highest value.”