WEIRTON, W.V.–Credit unions in West Virginia and Illinois have announced mergers in two separate deals.
In the Mountain State, members of the $20.3-million Tin Mill Employees FCU have voted in favor of merging into the $546-million First Choice America Community FCU
The transaction strengthens the credit union’s standing as the Ohio Valley’s largest locally owned-and-operated community financial institution, Scott E. Winwood, First Choice president and CEO, told the Steubenville Herald Star.
“We look forward to welcoming Tin Mill’s members into our credit union family,” Winwood said in a statement.. “Both credit unions are very proud of their long, rich histories of serving the financial needs of their members and the communities in which we live and operate. There are synergies with this merger that will add value to the memberships of both credit unions.”
With, 1,200 members, Tin Mill Employees FCU was founded in 1953. The 36,500-member First Choice America was chartered in 1939.
Illinois Merger
Meanwhile, in Fairmont, Ill., the $2.3-million Fairmont Village Credit Union said it has entered into a merger agreement with the $433-million GCS Credit Union, which serves 18 counties in Illinois.
The merger has already received approval by the Illinois Department of Financial and Professional Regulation, and NCUA.
“FVCU has served Fairmont City since 1937 and we are honored to be chosen to continue financial services to their membership,” said GCS President/CEO Keith Burton.
Fairmont Village Credit Union was established originally to serve CSX Transportation or Amtrak employees in Fairmont City, and is now open to anyone who lives or works in Fairmont City.