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The $1.2 billion Municipal Employees Credit Union in Baltimore will finalize its acquisition of the $62 million Advance Mutual Savings Bank in Baltimore by the end of Thursday’s business day, according to an Advance Bank prepared statement.

“The voting members of Advance approved the related plan of dissolution at a special meeting of members held on Nov. 15, 2013,” a statement on Advance’s website reads. “As a result, at the close of business on Dec.12, 2013, MECU will assume all of Advance’s deposits and essentially all of its assets subject to completion of certain closing requirements.”

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Peter Strozniak

 

Credit Union Times

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