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HOMESTEAD and PEMBROKE PINES, Fla. – To position itself more prominently in what they describe as a highly competitive marketplace, $136 million Pan Am Horizons Federal Credit Union and $391 million Power 1 Credit Union have announced their plans to merge.

Pan Am Horizons will merge its operations into Power 1 to produce a $525 million credit union, which will serve more than 60,000 members with an 11-branch network. When the merger is complete, the new organization will be called Power 1 Credit Union, with corporate headquarters at Power 1′s current headquarters in Pembroke Pines. Henry Prior, president/CEO of Power 1, will remain in those roles and Allan Prindle, president/CEO of Pan Am Horizons, will serve as executive vice president and chief operating officer.

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