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Mid-Atlantic and First Carolina Memberships OK Merger
Tuesday, August 23, 2016 6:35 AM

The memberships of Mid-Atlantic Corporate FCU in Middletown, Pa., and First Carolina Corporate CU in Greensboro, N.C., approved the merger of the two corporates. Ballots were mailed to members after NCUA approved the merger July 21.

“This merger presents so many possibilities, not just for our member credit unions, but for the future of the credit union movement,” said Jay Murray, Mid-Atlantic Corporate president/CEO. “By living out our dedication to cooperation, we’re proving that the credit union movement is strong and one that will survive because we work together.”

Said First Carolina Corporate President/CEO David Brehmer, “With the combination of our organizations, credit unions will have access to more products and services at the same or even higher level of service at competitive pricing. As a combined corporate, we’ll have the ability to give credit unions more for less, without having to sacrifice what they currently receive.”

The newly combined corporate, which will have a new name, will serve more than 1,200 credit unions, leagues, and credit union service organizations (CUSOs) in 46 states and Canada.

The tentative merger date is expected to be Oct. 1.

First Carolina Corporate’s North Carolina state charter will be the continuing charter, which will make the Greensboro, N.C., office the corporate’s headquarters. Mid-Atlantic Corporate’s location in Middletown, Pa., will remain open.

Murray will serve as CEO of the combined entity, and Brehmer will serve as president.