The $629 million Clearview Federal Credit Union of Pittsburgh completed a merger pact with the $61 million A-K Valley FCU of Lower Burrell, Pa., providing Clearview 11,000 new members and four new branches in Allegheny and Westmoreland counties.
The merger with Clearview comes after the husband-wife management team operating A-K first signaled their intent two years ago to retire from the CU, which maintains historical and employee ties to Alcoa Corp.
Janet Horn, president/CEO of A-K, and her husband, Lanny, chief operating and chief financial officer, had notified the board in 2008 of their plans to leave the CU pending the CU finding replacements, said a Clearview spokeswoman. During the interim, A-K had considered mergers with various Pennsylvania CUs, eventually picking Clearview, she said.
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