SANFORD, Maine–Two Maine credit unions have announced merger plans. The $303-million York County FCU and the $363-million Atlantic Region FCU in Brunswick, Maine plan to combine.
In a joint statement, the two credit unions said, "We believe it is in the immediate and long-term interest of our memberships to pursue a merger of the two credit unions. We are confident that this will result in creating a single credit union that is stronger, more vibrant and better positioned to do even more to serve members in the future."
Combined, the two CUs will serve approximately 44,000 members.
"The merger is about the future and, while both credit unions are strong and performing well, the landscape in financial services continues to evolve,” said Roger Sirois, president/CEO of Atlantic Regional FCU. “The proposed merger will enable us to not only continue to serve our members and communities but do even more.”
York County FCU President/CEO Scott Chretien added in the statement, "A merger of these two credit unions will bring about a broader array of products and services, from business services and auto lending to enhanced security and technology. The efficiencies provided by the merger will make us stronger. It will help ensure that we can continue to meet the financial needs of our members and deliver the unparalleled service that is the mark of both organizations."
York County Federal Credit Union has two offices in Sanford along with offices in York, Biddeford, and Saco, while Atlantic Federal Credit Union has locations in Cumberland, Freeport, Brunswick and Topsham. No branches would close as a result of the proposed merger, the credit unions said.
The surviving credit union will be called Atlantic FCU.