ROME, N.Y. — The New York State Department of Financial Services is expected to issue a final approval of the proposed merger between credit unions in the Mohawk Valley and the North Country by the end of the year. The members of Mountain Valley Federal Credit Union in the northeastern part of New York have […]
ROME, N.Y. — The New York State Department of Financial Services is expected to issue a final approval of the proposed merger between credit unions in the Mohawk Valley and the North Country by the end of the year.
The members of Mountain Valley Federal Credit Union in the northeastern part of New York have voted to merge their credit union with AmeriCU Credit Union, which is headquartered in Rome.
Mountain Valley Federal Credit Union is based in Peru in Clinton County, south of Plattsburgh. Mountain Valley members voted by mail and in-person at a special membership meeting on Sept. 18.
The proposed merger will enable the nonprofit Upstate New York credit unions to expand access to services, expertise, and branch locations for members and businesses across the Northern and Central New York regions, per AmeriCU’s Sept. 22 announcement.
The merger has also been approved by the National Credit Union Administration (NCUA), the federal agency that regulates federal credit unions.
AmeriCU has been serving members who live or work in Clinton and Essex counties for a number of years. The expanded AmeriCU credit union will serve more than 180,000 members across 24 counties, with 25 locations and combined assets of $2.8 billion, the Rome–based credit union said.
Mountain Valley’s four branch locations — all in Clinton and Essex counties — will become AmeriCU branches and make up AmeriCU’s Mountain Valley Region. All Mountain Valley employees have been offered the chance to continue working for the combined organization.
Ron Belle, president and CEO of AmeriCU Credit Union, will continue in that role in the combined organization. Mountain Valley CEO Maggie Pope will become assistant VP for community engagement in AmeriCU’s newly developed Mountain Valley Region. Pope is a well-known and highly regarded business leader in Clinton and Essex Counties, AmeriCU noted in its announcement.
Mountain Valley FCU initiated the merger and its board of directors unanimously approved it earlier this year, “citing the many similarities in the organizations’ origins, foundational values, commitment to member satisfaction, and community involvement.”
“My dad would be so proud,” said Kathleen Roach, president of Mountain Valley board of directors, whose late father, John Roach, founded the credit union in 1963.
John Roach was a teacher in the Peru Central School District, per the AmeriCU announcement.
