REGION – On Oct. 19 and Oct. 21, 2020, respectively, the membership of both Members Advantage Community Credit Union and River Valley Credit Union overwhelmingly approved the merger of the two credit unions. The newly combined credit union will serve the entire state of Vermont as well as Grafton, Sullivan, and Cheshire counties in New Hampshire.
The partnership was originally proposed to both memberships in early July, citing the joining of two like-sized credit unions with similar philosophies and cultures. Members will benefit by the expanded branch locations, a strengthened financial position, lower fees, enhanced products and services, and operational efficiencies obtained by working together. A new name is on the horizon for the credit unions, which will represent their heritage and combined values and position them for future growth in the markets served. It is expected to be announced within a few months.
According to Sean Gammon, who will remain on as the newly combined credit union’s CEO, “This strategic partnership is a big win for our combined membership. We remain a relatively small, local financial cooperative, who is committed to maintaining the great personal service that our members value and trust. The entire credit union team is excited to serve our members’ financial needs now and into the future as we take advantage of all the opportunities this partnership provides.”
Members Advantage Community Credit Union is a $320 million-plus financial institution, with ten locations currently serving over 30,000 members. MACCU provides membership opportunities to anyone who lives or works in Vermont and the following three New Hampshire counties. For more information about MACCU, visit www.maccu.org or find us on Facebook.