Two Maine credit unions merge
The Portland Police Department Federal Credit Union is merging with TruChoice Federal Credit Union, which has locations in Portland and Buxton.
TruChoice announced that the merger became effective Dec. 1 and that police department customers will be transferred to TruChoice’s products and services on March 30.
Ken Acker, TruChoice’s CEO and president, said in a prepared statement that “with the growing regulatory and technological demands of banking, it becomes harder and harder for smaller credit unions to keep up.”
“We saw an opportunity to join forces to make sure [the police department credit union’s] members still have access to fair rates and the personal service they’re used to and offer even more products and tools to help them thrive financially,” he continued.
The merger will give TrueChoice an additional 1,000 members and $7 million in assets.
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