Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Visions FCU to merge with Progressive Neighborhood FCU
ENDICOTT, N.Y. (5/28/10)--Visions FCU, Endicott, N.Y., will merge with Progressive Neighborhood FCU, Rochester, N.Y., June 1. Progressive has two branches--one is a main office and the other is an in-school branch. Both will be known as Visions after the merger, Frank Berrish, Visions president/CEO, told News Now. The National Credit Union Administration approached Visions about the merger with Progressive because Progressive is in a negative capital position (Press & Sun-Bulletin May 27). Berrish said Progressive is a community development credit union that focuses on serving low-wealth individuals. The credit union relied on grant money to serve members, and many of the grants have since dried up. The two credit unions have discussed merging since March. “Progressive is an inner city credit union that works with the poor and disadvantaged,” Berrish said. “We [Visions] will continue that mission with them.” Visions has 23 branches in Pennsylvania and New York, and 24,000 members. The credit union has $2.5 billion in assets. Progressive has 2,400 members and more than $2 million in assets.


RSS print
News Now LiveWire
Another state will probe the Experian data breach; learn more in tomorrow's edition of #NewsNow #CUNA #creditunions
15 hours ago
Canada's @Vancity to support phase 3 of @WOCCU's Build the Brand http://t.co/6IMSvA8LMZ
15 hours ago
Yesterday, #creditunions across the country encouraged members to #gogreen on #EarthDay http://t.co/boBamaLJoh #greenliving
18 hours ago
As ticket prices for sporting events soar, #creditunions are pitching in to drive down costs for members http://t.co/EgrrtkVlgt
20 hours ago
Shodair Children's Hospital in MT receives #NCUF @BizKidsTV, thanks to @mtcus4you http://t.co/oxGAbqpU5h
20 hours ago