WINSTON-SALEM, N.C.— Truliant Federal Credit Union and Piedmont Advantage CU here have signed a definitive agreement to merge, a combination that would create a larger regional cooperative with more than 360,000 members and approximately $6 billion in assets, according to CityBiz.
The combined institution would operate under the Truliant name and charter and expand to more than 40 branches across the Carolinas and Virginia, CityBiz reported.
The deal would pair the approximately $5.2-billion Truliant Federal Credit Union, which serves more than 355,000 members, with the approximately $387.1-million Piedmont Advantage Credit Union, which closed 2024 with just over 30,000 members.
CityBiz reported Truliant President and CEO Todd Hall will lead the merged organization. Piedmont Advantage President and CEO Dion Williams is expected to assist during the transition.
“This is an opportunity to build on what both organizations already do so well,” Hall said. Williams likewise described the deal as “a people-first partnership, grounded in shared values and a clear sense of purpose,."
Both credit unions will continue operating independently until the transaction closes, which CityBiz said is expected in early 2027, pending regulatory approval and a member vote by Piedmont Advantage members.