West Virginia Corporate Federal Credit Union and VolunteerCorporate announced Wednesday that they have finalized theirmerger.
|The surviving corporate will be VolCorp, headquartered inNashville, Tenn. An office will be maintained in Parkersburg,W.Va., as well.
|The combined vote of the membership of both corporates was 147-7in favor of the merger. In addition, 82% of West Virginia membersagreed to invest in Volunteer Corporate PCC, using the sameformula that was applied to previous Volunteer members, VolCorpsaid in a press statement.
|VolCorp added that the combined corporate will have over 250PCC-owning credit union members located in seven states. Assets andcapital will be approximately $1.4 billion and $72 million,respectively.
|At its late January meeting, the NCUA had extended its approval to the merger.
|The proposed merger had been announced in May 2011.
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