The $324 million Belvoir Federal Credit Union in Woodbridge,Va., said Wednesday its members approved a merger with the $19.4billion PenFed Credit Union in Alexandria, Va.

Among the members who cast a ballot on the merger question, 79%voted in favor of the consolidation that is scheduled forcompletion on May 1.

The merger will bring PenFed closer to $20 billion in assets, making it the thirdcredit union in the nation to reach that milestone. The Vienna,Va.-based Navy Federal Credit Union is No. 1 with $73.2 billion inassets and SECU of Raleigh, N.C., is second with $31.8 billion inassets.

When the merger closes, PenFed's assets will equal$19,784,474,997. With Belvoir's 27,141 members, PenFed's membershipwill increase from 1,374,181 to 1,401,322.

What's more, PenFed will expand its field of membership to include the FortBelvoir military community, which includes uniformedpersonnel, government employees, defense contractors andfamily members.

Fort Belvoir is home to 19 Department of the Army agencies, 26Department of Defense agencies, and eight elements of the ArmyNational Guard and U.S. Army Reserve.

As the largest employer in Fairfax County, Fort Belvoir boaststwice as many employees as the Pentagon, according to a PenFedprepared statement.