The $60 million, 10,927-member United Services Credit Union in Asheville, N.C., merged with the $583 million, 40,111-member Self-Help Credit Union in Durham, N.C., on Monday.
Approved by a Sept. 24 vote of United Services members, the credit unions said in a joint statement that the merger is a "proactive step by both credit unions to capitalize on their relative strengths and expand their impact within Western North Carolina communities."
United Services' net worth is 13.27%, well above peer average of 11% as of June 30, according to NCUA financial performance reports. The cooperative also increased its loan income from $1.9 million in 2008 to $2.7 million in 2012.
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