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The $7.6 million Fayetteville Postal Credit Union, one of North Carolina's oldest credit unions, will be merged into the $358 million Piedmont Advantage Credit Union in in Winston-Salem.
During a special meeting on Wednesday, Fayetteville Postal CU members voted to approve the consolidation.
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"While a merger may seem like an end, it is actually a new and exciting beginning," Fayetteville Postal CU Board Chair Dorothy Schrecker, said. "Fayetteville Postal Credit Union has been proudly serving its member owners since 1928, making it one of the oldest credit unions in North Carolina."
Dion Williams, president/CEO of Piedmont Advantage CU said the 1,610 members of Fayetteville Postal CU will have access to mortgage loans, instant issue debit and credit cards, mobile deposit and financial planning services.
Piedmont Advantage CU manages $280 million in loans, $39.4 million in capital, employs 118 staff and operates nine branches that serve a membership of nearly 40,000.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
