FORT KENT, Maine — The Boards of Directors from Acadia Federal Credit Union and St. Agatha Federal Credit Union are excited to announce the merger of the two organizations. The institutions are currently seeking regulatory approval from the National Credit Union Administration and expect a decision within the next few weeks. Upon approval from government regulators, members of St. Agatha FCU will have the opportunity to vote on final approval of the merger. The merger is expected to be complete by the spring of 2012.
Percy Thibeault, Chairman of the Acadia FCU Board, expressed excitement, â€śWe are very pleased that the two Boards have negotiated a favorable agreement. We realize that this merger will allow for continued growth and pose a beneficial situation to all members for many years to come.â€ť Chairman of the St. Agatha FCU Board, Keith Labrie, added, â€śWe are pleased to announce the decision to merge with Acadia, the board of directors considers this an opportunity to better serve our membership with improved services and new products. We believe that by joining with Acadia we are positioning our Credit Union for long-term growth and sustainability.â€ť
The merger of these organizations will create a financial institution with $110 million in assets and serve over 10,000 members from all of Aroostook County. Directors, managers and employees continue to pride themselves on serving the local communities and look forward to the expansion of products and services available to their members.
Contact Name: Kate Dumond
Telephone Number: (207)834-6167