The $500 million Freedom Credit Union in suburban Philadelphiasaid it considers its recent practice of mergingstruggling church peers just another example of industrysupport.
This week, the Warminster, Pa., CU said it has welcomed 158 newmembers of the tiny Crestmont Baptist FCU of Willow Grove, CU. The credit union has $90,000 in assets and had approachedFreedom last year after it had opened a new branch in Abingdon.
“They've felt the brunt of compliance and saw a merger with usas a strategic step,” said Lee MacMinn, Freedompresident/CEO.
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