PA & NJ credit unions approve merger of trade groups
The PA/NJ Credit Union Association will open for business on Jan. 1, 2020.
Member credit unions of the Pennsylvania Credit Union Association and the New Jersey Credit Union League voted to approve the consolidation of the two trade organizations, PCUA President/CEO Patrick Conway said Thursday.
He announced an affirmative vote of the trade groups’ memberships ratifies the definitive merger agreement approved by the boards of directors of PCUA and NJCUL in March.
A total vote count was not released.
The PA/NJ Credit Union Association will be open for business on Jan. 1, 2020 and become one the nation’s largest two-state trade organizations that will serve more than 520 credit unions.
“This is an exciting day for credit unions in both Pennsylvania and New Jersey,” Jeff DeBree said, who serves as PCUA’s board chair and as president/CEO of the $174 million Penn East Federal Credit Union in Scranton. “I would like to thank my fellow PCUA and NJCUL board members as well as our member credit unions in both states for their support of this new organization.”
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