The $600 million Franklin Mint Federal Credit Union of Broomall, Pa. announced an agreement to merge the $52 Main Line Health Employees FCU of Bryn Mawr in a deal to be completed in the third quarter.

John D. Unangst, president/CEO of FMFCU, stressed the consolidation is still subject to regulatory and member approval and is one that removes member overlap and service duplication following a local hospital merger.

"This is a positive merger of two very healthy credit unions and is not done like some of those XYZ bank mergers you read about to take care of depleted capital," declared Unangst.

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