WASHINGTON, PA (November 14, 2016) — The $170 million CHROME Federal Credit Union merged the $35 million Pittsburgh Central Federal Credit Union effective Oct. 1. The move adds 5,700 new members, 10 new employees and a new location in Allegheny County, Pa. All Pittsburgh Central employees were offered positions with CHROME, and the credit union will remodel its new location to fit the branding and culture of its other retail stores.
CHROME had previously expanded its field of membership to include Allegheny County, as well as Beaver and Butler counties. It now serves a five-county area that includes the greater Pittsburgh metropolitan area and touches more than 3.5 million people.
We are very excited to collaboratively join together with CHROME,” said former Pittsburgh Central President/CEO Patricia Morrissey, who now serves as CHROME’s CFO. “Our members will now have access to a variety of new products and services, in addition to enhanced digital services. This creates greater efficiencies for both organizations and most importantly will continue to generate more loan term value for all members.”
The merger is another example of CHROME’s impressive growth over the past few years. In December 2012, the credit union – then known as Washington Community FCU – had only $112 million in assets. In 2014, the credit union gained a new leadership team and rebranded in 2015 as CHROME, in a nod to its steelworker legacy and commitment to providing members with a strong and simple institution that lives up to the promise of banking that shines.
CHROME is discussing additional mergers with other institutions, and aims to grow assets to $500 million in the next five years, said CHROME President/CEO Christopher George.
“It’s imperative that credit unions transform themselves into modern, effortless financial services providers that not only leverage the latest technology, but also help members meet their financial goals,” George said. “We are revolutionizing banking, moving past mere products and services to create a new state of mind.”
CHROME may be a shiny new credit union, but our history in Washington County goes back decades. Formerly Washington Community Federal Credit Union, in 2015 we changed our name to CHROME, in honor of our history forged in the steel industry back in 1971. Chromium is added to steel to make shiny, strong, stainless steel, and likewise, CHROME offers banking that shines in a strong, stainless and simple way. We’re more than just a bank. We invest in WOW moments.
Heather Anderson
(202) 295-7631
heather@omnichannelcommunications.com
