DOVER, Del. (10/26/11)--Dover (Del.) FCU announced that, effective Oct. 1, it has completed incorporation of Peninsula Methodist FCU, Crisfield, Md., into its membership and operations.
Peninsula Methodist FCU, a $198,000 asset faith-based credit union serving 155 ministers and employees of Methodist churches located in Delaware and the Eastern Shore of Maryland, had no full-time employees or branch locations. Peninsula offered loans and savings accounts to its members.
The merger with $330 million asset Dover FCU expands the services available to former Peninsula members who will now have access to more financial products, including Dover FCU's low-rate loans and no-fee checking accounts with no minimum balance restrictions.
Peninsula savings accounts have been automatically converted to basic share savings accounts at Dover FCU.
David Clendaniel, CEO of Dover FCU, said that the credit union was looking forward to welcoming its new members. "Dover Federal draws its strength from its membership and gives back to its members in the form of low-cost financial services and great member service," he said. "We welcome all our new members from Peninsula Methodist FCU."