The $250 million Freedom First Credit Union began operating its11th branch Monday following the merger completed lastweek of the struggling Carilion FCU, both in Roanoke, Va.
|Carilion, founded in 1970 to serve members of the Carilionmedical clinic, had sought the consolidation in mid-2011. The CUlost $82,000 last year and $52,000 in 2010.
|The merger won approval of the membership of the $8.6 million,2,600 member Carilion FCU on Dec. 1 and the takeover was madeeffective March 1.
|Freedom First has 40,000 members and calls itself the largestcommunity development financial institution in Virginia.
|“This is the first merger for us in many years but we are notaggressively setting our sights on merging others,” noted JamieAsciolla, vice president of marketing.
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