Members of the $32 million U.S. Coast Guard Community CreditUnion in Pasadena, Md., have approved a merger with the $2.5billion Tower Federal Credit Union in Laurel, Md.
|Sixty-eight members voted Thursday in favor of the merger, and10 members voted against the merger, according to Carla Burger, amarketing communications representative for the 125,530-memberTower FCU.
|USCGCCU has 3,978 members. Seven USCG employees formed thecredit union in 1940, pooling their money to help themselves andtheir friends to save and borrow at reasonable rates duringdifficult times.
|The proposed merger, expected to be complete by June 30, iswaiting for regulatory approvals from the NCUA and the MarylandCommissioner of Financial Regulation.
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