York County Federal Credit Union plans to merge into Atlantic Federal Credit Union, a move that would create the state’s largest credit union with more than $712 million in assets and 47,000 members.
Atlantic has branches in Brunswick, Topsham, Freeport and Cumberland, while York County has branches in Saco, Biddeford, Sanford, South Sanford and York. The York County branches would be re-branded as Atlantic branches, according to a news release.
York County members have approved the merger, but two additional steps are required to make it official. Final authorization from the National Credit Union Administration is expected to be completed by the end of March, and the operations of both credit unions would then be unified by early 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.
“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.”
J. Craig Anderson can be contacted at 791-6390 or at:
Twitter: @jcraiganderson
This story was updated at 7:50 a.m. Feb. 14 to correct the name of the federal agency that approves credit union mergers.
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