Nymeo Federal Credit Union merges with MBFT Federal Credit Union
FREDERICK, MD (September 25, 2020) — Nymeo Federal Credit Union announced today that it will merge with MBFT Federal Credit Union (MBFTFCU) of Thurmont, Maryland. The final approval was given March 13, 2020 by the National Credit Union Administration (NCUA), and the official merger is set for October 1, 2020.
With over $314 million in assets, 22,483 members and 7 branches, Nymeo is a community chartered federal credit union serving all of Frederick and Montgomery County Maryland. MBFTFCU, which has been serving its members for 57-years, has $500K in assets, 131 members, and one branch. By merging with Nymeo, MBFTFCU members will gain immediate access to expanded savings, checking and loan products including mortgages and credit cards as well as insurance, investment and retirement and wills and trust services.
Nymeo is confident this merger will be in the best interest of both institutions. “For over 80 years, our Credit Union has been helping members achieve their financial goals in life,” said Victoria Johnston, Nymeo’s President and CEO.
“Our board of directors, leadership team and staff look forward to welcoming MBFTFCU members and helping them reach their own goals.”
According to MBFTFCU Acting President Virginia Buhrman, Board Treasurer Charlene Parrill and Co-Treasurer Wanda Peomory, the merger with Nymeo will be a positive one for MBFTFCU.
“Nymeo Federal Credit Union will be a great enhancement for MBFT Federal Credit Union and we look forward to a successful merger and seamless transition,” Buhrman said. “We share a commitment to the community and to the members, and as such, the combined membership should be confident that this is a step in the right direction.”
All MBFTFCU branch locations will continue to run normally until September 30, 2020.
About Nymeo Federal Credit Union
Nymeo is a cooperative, not-for-profit financial institution with headquarters in Frederick, MD. Nymeo offers traditional banking products, but stands apart from other financial institutions with its outstanding customer service, innovative branch concepts, low interest rate loans and new mobile banking application for its members. Nymeo membership is open to anyone who lives, works, worships, attends school, volunteers, or conducts regular business in Frederick and Montgomery Counties. For more information about Nymeo please visit nymeo.org.
