CLARION, Pa. — At a Special Membership Meeting, Clarion University Federal Credit Union members voted to merge with Pennsylvania State Employees Credit Union.
The ending vote count was 403 to 59 in favor of the merger. The merger will be official for CUFCU members on July 1.
"By merging with PSECU, we ensure that our members continue to receive the best value in financial services available," said President of the CUFCU Board Cynthia Nellis. "PSECUs commitment to its members and the cooperative principles of the credit union industry only strengthen our belief that merging with PSECU is in the best interests of our members."
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CUFCU has an asset size of $6,366,816 with 1,429 members and PSECU is one of the nation's largest credit unions with an asset size of $2,958,520,235 and 336,115 members.
"We look forward to serving the members of Clarion University Federal Credit Union," said PSECU President Gregory Smith. "This merger was a natural fit for PSECU because students, faculty, and alumni of Clarion University are already within PSECUs field of membership."
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