Infinity Federal Credit Union and Vibrant Credit Union call off merger
WESTBROOK, ME (September 25, 2019) — The proposed merger between Maine-based Infinity Federal Credit Union (FCU) and Illinois-based Vibrant Credit Union has been called off after months of due diligence.
“When we started down this path, a partnership between Vibrant and Infinity FCU seemed like a natural fit of culture and systems for many reasons. However, the merger process brought some important differences to light and it became evident that the integration was simply not a good fit.” said Elizabeth Hayes, Infinity FCU’s President/CEO.
“The talks ended amicably, with both sides agreeing to work as collaborators rather than partners going forward. Infinity FCU continues to be a strong and financially sound organization and we are committed to achieving our vision for the future of doing what’s right for our members, our communities, and our employees.”
This announcement comes weeks after Infinity FCU’s groundbreakingto celebrate the construction of a new Scarborough branch, located at 35 Plaza Drive, just off Route 1 scheduled to open at the end of the year.
About Infinity Federal Credit Union
As Maine’s first credit union, Infinity Federal Credit Union has been serving its members since 1921, initially as the Telephone Workers Credit Union of Maine, then as Telco of New England FCU. Infinity FCU is now community-based, available to anyone who lives, works, worships or attends school in Cumberland and York counties and the city of Bangor, Maine. Infinity FCU is a not-for-profit cooperative organization owned by its members and guided by the vision: “We do banking differently to keep you a step ahead in life.” For more information about Infinity FCU, please visit www.infinityfcu.com.