SANFORD, Maine–Two Maine credit unions have announced plans to merge to create a CU with more than $700 million in assets.
The $325-million York County FCU said it plans to merge into the $388-million Atlantic FCU in Brunswick, Maine. The combined credit union would serve more than 47,000 members, with all York County FCU branches rebranded as Atlantic FCU branches.
According to the credit unions, York County members have approved the merger, and the deal now awaits approval from NCUA. If approved, the goal is to complete the merger in June.
Atlantic’s current president and CEO, Roger Sirois, would become president of the combined credit union, and York County President and CEO Scott Chretien would become CEO, the credit unions said in a statement.
“We are very excited by the support from the York County members,” Sirois and Chretien said in a joint statement. “We have always believed that our two successful credit unions would be stronger together. It is about continuing to provide our members with the latest in technology and help them do better. Atlantic and our members have a fantastic future ahead of us.”