The $233 million Piedmont Advantage Credit Union in Winston Salem, N.C. will acquire a Charlotte, N.C. branch of the $804 million Clearview Federal Credit Union in Moon Township, Pa.
Members of the North Carolina branch "overwhelmingly voted to approve the spin-off" on Dec. 30, according to a joint statement.
The Clearview FCU branch employees will be retained once the acquisition is completed. Terms of the acquisition were not released.
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Piedmont Advantage CU plans to combine one of its Charlotte Branches at 47000 Yorkmont Road into the Clearview FCU Boyer Street Branch on Feb. 28, the statement said.
Once that branch consolidation is completed, Piedmont will operate 10 branches to serve its 42,466 members.
The Boyer Street location was the only branch Clearview FCU operated in North Carolina. The credit union has 17 branches throughout southwestern Pennsylvania that serve 83,563 members.
"We are eager to show our new members how we are easy to do business with, and always work to improve the financial well-being of every member we serve," said Judy R. Tharp, Piedmont Advantage president/CEO. "Our vision at Piedmont Advantage is to enhance the lives of our members by providing quality products and caring solutions with a can-do attitude."
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
