First Carolina Corporate Chairman Bob Bruns said by sharing strengths and resources, the merged corporate can help credit unions remain competitive in a rapidly changing financial and technological environment.

"That's important because, going forward, credit unions need secure, innovative delivery systems and high quality, low-cost financial products to meet their members' growing demand for easy access, 24/7 service," Bruns said.

Murray added, "Mid-Atlantic Corporate and First Carolina Corporate have had an excellent working relationship for many years. We've collaborated on various projects, participated in regional conferences and helped each other promote the common good among member credit unions. The combining of our organizations leverages First Carolina Corporate's balance sheet strategy and Mid-Atlantic Corporate's payment and information technology solutions, creating a powerful force for financial service delivery and enabling us to offer an unparalleled menu of high-quality financial products and services to member credit unions."

Brehmer agreed with these sentiments, stating that by working together, the corporates see a bright future for their combined membership.

"It is rare to find two entities whose core values are so in sync, and whose organizational strengths and management complement each other so well," Brehmer said. "Both corporates are stable, have strong balance sheets and have successfully rebuilt capital. By merging from a position of strength, we'll be able to build on our shared resources, staff talent and expertise, and mutual belief that collaboration is the best recipe for helping credit unions succeed."

With $2.3 billion in assets, Mid-Atlantic Corporate serves CUSOs, leagues, chapters and more than 700 credit unions. First Carolina Corporate serves more than 200 credit unions in six states and has $1.4 billion in assets.