The Board of Directors at Bennington E/E Federal Credit Union located in Bennington, and VSECU, a statewide credit union for everyone who lives or works in Vermont, have announced a plan to merge the membership of the two credit unions. This is the second recent Bennington CU merger for VSECU.
Bennington E/E Federal Credit Union serves approximately 450 EVEREADY employees and their families. At Bennington E/E Federal Credit Union there is a growing desire to expand services and increase access to technology for its members. The plant management supports the Board’s decision to present this merger opportunity as a solution to bring additional services and benefits to their employees.
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Members of the PMH Credit Union in Bennington recently joined VSECU in a mutually agreed upon merger supported and passed by a membership vote from both credit unions. VSECU members now have a physical branch location in Bennington and PMH Credit Union members have benefited from access to a complete line of financial products and services that were not previously available. According to a statement from VSECU, merging the two credit unions has been significantly beneficial for both memberships.
At VSECU we have a desire to help every Vermonter reach their financial goals utilizing a complete line up of products and services, and to be involved through community support. Servicing, supporting, and welcoming the Bennington E/E Federal Credit Union members as members of VSECU is part of our mission and in alignment with the cooperative spirt – people helping people.
This cooperative merger can only happen if our respective members vote in favor of it, tentatively scheduled to occur at the Annual Meetings in February for Bennington E/E Federal Credit Union and in March for VSECU; pending regulatory approval from the Vermont Department of Financial Regulation and the NCUA.
There are many milestones to reach leading to the membership vote and we anticipate you will have questions along the way. An open house reception has been scheduled on Saturday January 24, 10:00 AM to noon, at the Bennington Fire Station where representatives from both credit unions will be available to answer questions. You can also visit our dedicated website at beefcu.vsecu.com periodically for updated information or call a representative on this dedicated toll free number 1-800-371-5133, Monday – Saturday, if you have questions.
The directors of each credit union voted unanimously in favor of the merger.
Sorurce: VSECU 1.6.2015 Visit the Merger Webpage