ROME, N.Y. — AmeriCU Credit Union tells CNYBJ that the New York State Department of Financial Services (DFS) has given final approval of its merger with Mountain Valley Credit Union.
AmeriCU on Sept. 22 announced that members of Mountain Valley Federal Credit Union in the northeastern part of New York 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.
The merger had also previously been approved by the National Credit Union Administration (NCUA), the federal agency that regulates federal credit unions, per the Sept. 22 AmeriCU announcement.
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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 announcement.
AmeriCU says it 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 have combined assets of $2.8 billion.
The merger was initiated by Mountain Valley and unanimously approved by its board of directors earlier this year, citing the many similarities in the credit unions’ origins, foundational values, commitment to member satisfaction, and community involvement, AmeriCU said.
