Peninsula Methodist Federal Credit Union to Merge with Dover Federal Credit Union

Dover, Delaware – October 7, 2011 – Dover Federal Credit Union is proud to announce that, effective October 1, 2011, it has completed incorporation of Peninsula Methodist Federal Credit Union into its membership and operations.

Peninsula Methodist Federal Credit Union, a faith-based credit union serving 155 ministers and employees of Methodist Churches located in Delaware and the Eastern Shore of Maryland, had no

full-time employees or branch locations. Peninsula Methodist Federal Credit Union offered loans and savings accounts to its members.

The merger with Dover Federal greatly expands the services available to former Peninsula Methodist Federal Credit Union members who will now have access to a whole host of financial products, including Dover Federal’s low-rate loans and no-fee checking accounts with no minimum balance restrictions. Peninsula Methodist Federal Credit Union savings accounts have been automatically converted to basic Share Savings accounts at Dover Federal. Members will be earning a significantly higher percentage yield on their savings than they did with their Peninsula Methodist Federal Credit Union accounts.

David Clendaniel, CEO of Dover Federal, said that the credit union was looking forward to welcoming its new members. “Dover Federal draws its strength from its membership,” he said, “and gives back to its members in the form of low-cost financial services and great member service. We are really pleased with this opportunity to expand the Dover Federal family, and we welcome all our new members from Peninsula Methodist Federal Credit Union!”

Dover Federal Credit Union is the largest credit union in the state of Delaware, with a membership of 37,132 and assets of $332 million. First chartered in 1958, Dover Federal has offices in Smyrna, New Castle, Milford, and Dover, including one at Dover Air Force Base. Dover Federal has proudly served the military and Delaware families for over 50 years and has recently expanded its services to include business accounts. More information can be found on Dover Federal’s website at www.doverfcu.com.

 

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