Eastern Maine Medical Center Federal Credit Union completed the operational integrations of its merger into Acadia Federal Credit Union on Wednesday, the two CUs said, creating a financial institution with eight branches, nearly 15,000 members and more than $208 million in assets.
As previously reported by Credit Union Journal, the proposed merger received approval from the National Credit Union Administration in early September. Later that month, the voting majority of EMMC FCU members gave their approval.
Prior to the merger, Eastern Maine Medical Center FCU, headquartered in Bangor, Maine, had $49.5 million in assets, while Fort Kent, Maine-based Acadia FCU had $158 million in assets.
During the merger application process, Acadia FCU applied for and was granted an expanded field of membership. The newly enlarged credit union now will serve not only employees of the Eastern Maine Healthcare Systems and their affiliates, but also any business or legal entity and any person who lives, works, worships or attends school in northern and eastern Maine. The field of membership includes Aroostook, Piscataquis, Penobscot, Hancock and Washington counties.
Three members of EMMC FCU’s board of directors and one supervisory committee member were appointed to Acadia FCU’s existing board and supervisory committee, respectively. The two credit unions said all EMMC FCU staffers were retained as employees of Acadia FCU, “with increased opportunities for job growth and professional development.”
The two CUs also touted additional products and services that now will be available to former EMMC FCU members.
“We are so pleased EMMC FCU members will be joining us as part of the Acadia FCU family,” David Desjardins, president and CEO of Acadia FCU since 2004, said in a statement. “We look forward to expanding products and services to the current membership, as well as serving all people from Penobscot, Hancock, Piscataquis, Washington and Aroostook Counties.”
“This merger is a fantastic development that guarantees continued superior service to all former EMMC FCU members for many years to come,” said Jim Pelletier, former CEO of EMMC FCU.
Pelletier will continue with Acadia FCU as director of business development.