Acadia, EMMC FCUs Receive Approval to Merge
The merger between Acadia Federal Credit Union and EMMC Federal Credit Union has officially received regulatory approval by the National Credit Union Administration (NCUA).
The two credit unions will move forward with a membership vote by EMMC FCU on Sept. 26, the final step in the merger process. If approved by members, the merger, which includes full integration of credit union accounts, products and services, is expected to be complete by November 1.
The merger package that was submitted is a combined effort from both credit unions. NCUA approval signifies that the merger is financially sound as well as beneficial to the memberships of both credit unions. The NCUA approval is the first of two steps needed for the merger to occur.
“We are extremely pleased to have received regulatory approval as well as an expanded Field of Membership,” said David Desjardins, President / CEO of Acadia FCU. “We will now continue the process of bringing these two organizations together, while also serving anyone from the eastern Maine area. We look forward to bringing added value to our members with expanded services and locations once the merger is completed.”
The final step, a member vote, is planned for 6:30 p.m. on September 26 at Hilton Garden Inn in Bangor. EMMC FCU members will also have the opportunity to submit votes anytime during the days leading up to the meeting, where final votes will be accepted and tallied. EMMC FCU’s membership will soon be receiving more information in the mail regarding the upcoming vote and meeting. Ballots will be mailed in mid-September to all EMMC FCU members in good standing.
As previously announced, the combined organization will operate as Acadia Federal Credit Union, which was jointly decided by both financial institutions. It will serve members throughout northern and eastern Maine, with eight branches, nearly 15,000 members, and over $200 million in assets. This merger will bring greater value to their collective membership, employees, and communities. Joining forces expands Acadia FCU’s statewide footprint, brings measurable economies of scale, and provides long-term growth opportunities.
EMMC FCU has operations in the greater Bangor and Brewer area and serves the employees and families of Eastern Maine Health System and their affiliates. Acadia FCU is community-based and primarily serves Aroostook County, with branches in Fort Kent, Madawaska, St. Francis, St. Agatha and Ashland. During the merger process, Acadia FCU applied for an an expanded Field of Membership, and will now be able to serve anyone who lives, works, worships or attends school in northern and eastern Maine.
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