PEMBROKE PINES, Fla. — October is turning out to be the month for credit union mega mergers.
This time, it's the merger between Power 1 Credit Union and Pan Am Horizons Federal Credit Union made official Oct. 2. The new name of the merged credit unions is Power Financial Credit Union, creating the fifth largest credit union in South Florida, according to officials. With combined total assets of more than $525 million, Power Financial now operates 11 branches in Miami-Dade, Broward and Palm Beach counties and serves nearly 60,000 members.
"Our new name better reflects the promise and commitment we make to our members, to provide powerful financial solutions," said Henry Prior, president/CEO, Power Financial, who confirmed final regulatory approval and the signing of the merger documents.
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