Fort Worth Telco Credit Union announced that it will merge with Fort Worth-based EECU, effective May 31.
“EECU has a long-standing relationship with Fort Worth Telco Credit Union and its leadership,” said Lonnie Nicholson, president/CEO of EECU. “The decision to merge seemed like a natural extension of the relationship between the two credit unions. We are excited to enhance the products, services and delivery options provided to Telco’s members.”
EECU serves more than 167,000 members.
“We feel this merger will be extremely beneficial to our members as they will have access to resources not currently available to them,” said Ron Reed, Fort Worth Telco Credit Union president. “Having been our neighbor in Fort Worth for 33 years, we’re confident in EECU’s commitment to upholding the high standards of service our members are used to.”
The merger, which is already in progress and scheduled for completion on May 31, will transfer the approximately 5,000 Fort Worth Telco Credit Union member accounts, which include checking and savings deposits and loans, to EECU.
EECU was founded in 1934 to serve the financial needs of Fort Worth teachers. Today it holds assets of more than $1.4 billion. Fort Worth Telco has assets of $41.4 million.