WYOMISSING, Penn.–Two Pennsylvania credit unions have announced plans to merge.
The $1.3-billion Utilities Employees Credit Union and the $169-million NE PA Community FCU in Stroudsburg, Penn., said they are looking to combine.
The merged CU would have approximately 130 employees and four branches if NEPACFCU members give it the OK.
In a statement, the credit unions said they “are committed to a shared vision of enhancing the member experience, expanding 24/7 services, and strengthening the financial offerings for the communities they serve.”
Utilities Employees CU has approximately 50,000 members and reported $200,577 in net income and net worth of 16.72% as of the first quarter. NE PA Community had $114,695 in net income and net worth of 8.40% as of the same date.
‘Shared Values’
“We are excited to welcome NE PA Community members to the UECU family,” Bret Krevolin, president and CEO of UECU, said in a statement. “Together, we will continue to uphold our shared values of member-centricity, financial empowerment, and community involvement. This merger represents a significant milestone in our collective journey to provide unparalleled value and service to our members.”
If the merger is approved, the credit unions said NE PA Community would be designated NE PA Community, a division of UECU.
In its statement, UECU said after the merger, “A thoughtful, independent and expert analysis” of the brand will be conducted to determine the name of the combined credit union.
‘United in Purpose’
“UECU has demonstrated consistent financial strength, ongoing innovation in its product and service offering, as well as a commitment to providing excellent member service,” Mark T. Filbert, president and CEO of NE PA, said in a statement. “We are united in purpose and rooted in local values. NE PA is pleased to unite with UECU to further enhance our community impact, support local relationships, expand credit union services, and build a stronger, more resilient financial future for all.”
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