Undertaking its first merger in several years, the $2.3 billionState Employees Credit Union in Linthicum, Md., announced Tuesdayit planned to consolidate the $81 million Anne Arundel CountyEmployees FCU of Annapolis.

Merger discussions have been under way since the fourth quarterof last year with the healthy Annapolis CU deciding a limitedproduct offering and tech capacity made scouting for a mergerpartner the right choice, said Rod Staatz, president/CEO ofSECU, Maryland's largest state-chartered CU.

“We are delighted the management and board of Anne Arundelpicked us after their CEO apparently shopped some of our branchesand liked what he saw,” said Staatz, who is vice chairman of theMaryland/DC Credit Union Association.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Credit Union Management