ENDWELL — Visions Federal Credit Union today announced that CTCE Federal Credit Union (CTCE) of Reading, Pa. will “merge with, and into” Visions.
The Alexandria, Va.–based National Credit Union Administration has approved the transaction, which is effective Dec. 1, Visions said in a news release.
Once the transaction is complete, Visions will have 34 office locations in parts of New York, New Jersey, and Pennsylvania, nearly $3.3 billion dollars in assets, and more than 171,000 members, the organization said.
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All four current locations of CTCE, a $78 million credit union, will remain open, Visions said.
Visions, an Endwell–based credit union, intends to continue CTCE’s history of supporting the Reading community and is “excited about the future of our combined organization,” Tyrone Muse, president and CEO of Visions, said in the news release.
“This merger opportunity will not only provide our membership with greater access to resources in Pennsylvania, but will also allow us to grow within that region while providing the CTCE members with improved rates, enhanced product selections, and additional services,” said Muse.
Founded in 1970, CTCE serves the employees and families of Carpenter Technology Corporation. Over the years, its membership has grown to include local residents and other employer groups in the Reading area, according to Visions.
Visions Federal Credit Union currently has $3.2 billion dollars in assets and serves more than 158,000 members, with 30 branches located throughout Central New York, portions of Rochester, northern Pennsylvania, and portions of northern New Jersey, the organization said.
Contact Reinhardt at ereinhardt@cnybj.com
