The $19 million Greater Norwalk Area Credit Union of Norwalk, Conn., has merged into the $74 million NEA Federal Credit Union of Bardonia, N.Y.
The merger, effective Dec. 31, is undergoing the conversion process that is expected to be completed within five to six months, the credit union said.
NEA FCU continues to operate GNACU's Norwalk branch, providing NEAFCU with its second Connecticut branch. NEAFCU operates five New York branches in Rockland, White Plains, Greenburgh, Montrose and Tarrytown.
Recommended For You
Howard S. Elkin, former GNACU CEO/president, will be vice president of operations for NEA, and other GNACU employees will continue working for the newly merged credit union that now manages $93 million in assets and serves 16,300 members, NEA FCU said.
The merger has been approved by NCUA and the Connecticut's Department of Banking, according to NEA.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
