The $123 million Partnership Federal Credit Union of Arlington,Va. said Thursday it has signed a letter of intent to merge the $16million Fannie Mae FCU of Washington.

The consolidation, which has been under study for more than ayear, coincides with the retirement of Helen Bunn, Fannie Mae FCU'sveteran CEO. Bunn said she will be retiring next year after 40years of industry service.

Bunn said other Beltway credit unions were considered “but thislooked like the best fit for us.” Partnership FCU wasformed in 2009 with the merger of FDIC FCU and NSF FCU.

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