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Summit Credit Union announces merger of United Chemi-Con Manufacturing Employees Credit Union

GREENSBORO, NC (November 27, 2013) — Summit Credit Union, headquartered in Greensboro, NC, has announced the merger of United Chemi-Con Manufacturing Employees Credit Union headquartered in Lansing, NC, under its credit union affiliate program. The merger will be effective December 1, 2013.

United Chemi-Con Manufacturing Employees Credit Union has roughly 500 members and assets of $4 million. The credit union opened in 1961 and serves employees of United Chemi-Con in Lansing, NC, and Barker Microfarads in Hillsville, VA.

Using its affiliate program, Summit Credit Union allows any merging credit union access to the full benefits of Summit Credit Union while maintaining its prior identity. Merged credit unions may also participate in the operation and direction of the credit union in an advisory capacity.

Affiliated credit unions can maintain a strong brand identity through branded ATMs and logos, gather important statistical data, and take advantage of a greater economy of scale. “Our program combines the familiarity members of small credit unions appreciate with the convenience and advantage of doing business with a large institution.” says Sam Whitehurst, Summit’s President/CEO.

Chartered in 1935, Summit Credit Union is a full-service financial institution that offers a wide-range of consumer financial products, including home loans, checking accounts, car loans, home banking, Visa credit cards, signature loans, and more.

Summit Credit Union has assets of $153 million and positions itself as an employee benefit serving over 180 employers with roughly 24,000 members in North Carolina. Summit operates branch offices in Greensboro (2), Winston- Salem (2), and one each in Raleigh and Hickory.

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