Acadia and EMMC credit unions announce merger
Two credit unions in northern Maine plan to join forces.
EMMC Federal Credit Union of Brewer and Acadia Federal Credit Union of Fort Kent will, combined, have eight branch offices and serve 15,000 customers. Combined, the institution will have $200 million in assets. Pending regulatory approval, the merger is expected to be completed by early 2018. The credit union will be known as Acadia FCU.
“We are very excited about this partnership with EMMC FCU to further our mission of service to the membership,” said David Desjardins, president and CEO of Acadia FCU. He will remain CEO of the combined credit union. “The shared vision of a stable, strong organization capable of servicing the members is something both credit union boards want to ensure going forward.”
All current employees, 64 in all, will be kept on staff. There are 50 employees at Acadia FCU and 14 at EMMC FCU.
EMMC FCU serves employees of Eastern Maine Health System and its affiliates and has two branch offices in Bangor and one in Brewer.
Acadia serves Aroostook County with branches in Fort Kent, Madawaska, St. Francis, St. Agatha and Ashland.
“We believe that this partnership has exciting implications for the access of our members to increased services and improved infrastructure, while continuing the personalized service that they have come to expect. Acadia FCU’s well-established and proven track record for great customer service mirrors perfectly our philosophy and expectations,” said Chris Shaw, chairman of the EMMC FCU board.
The merger must be approved by the National Credit Union Administration.
There will be informational meetings scheduled to provide members with the opportunity to receive information and get their questions answered. Acadia Federal Credit Union, founded in 1963, is a member-owned financial institution, created through the merger of six smaller community credit unions. Acadia has 10,000 members and assets totaling $152 million. EMCC FCU has about 4,300 members and $49.5 million in assets.
Most Recent
Most Recent
Comments