The members of the financially struggling Postmark Credit Union in Harrisburg, Pa., voted Thursday to approve the Sept. 1 merger with the $952 million Xceed Financial Federal Credit Union in El Segundo, Calif.
While Teresa Freeborn, Xceed Financial's president/CEO, said in a prepared statement that Xceed Financial has many members and key employer group partners such as TE Connectivity and Tyco in the Harrisburg area, the Postmark CU branch will remain open – giving Xceed Financial its first branch in the Keystone state.
In addition to its three branches in the Golden State, the California cooperative operates one branch each in Connecticut, Florida, North Carolina, New Jersey and Texas, and six branches in upstate New York.
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