ROANOKE, Va. (3/5/12)--A merger between $8 million asset Carilion FCU and Freedom First FCU, both of Roanoke, Va., is complete.
Carilion FCU accounts were transferred to Freedom First CU on Thursday.
Freedom First now has assets of more than $250 million.
Based upon Freedom First's financial strength, commitment to service, product line, and expanded branch and ATM locations, the board of Carilion FCU unanimously voted to adopt a resolution to merge with Freedom First, the credit unions announced in a press release.
On Dec. 1, the membership of Carilion FCU approved a plan to merge with Freedom First by an overwhelming majority--94% of those voting approved the merger.
Regulatory approval was also obtained from the National Credit Union Administration.
Carilion FCU was founded in 1970 to serve the Carilion Clinic community. The former Carilion FCU branch location in Roanoke will remain open as a branch of Freedom First.