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By Staff
After more than a year of discussion, members of Penobscot County Federal Credit Union voted to merge with County Federal Credit Union.
The combined credit union will operate under the County Federal Credit Union name and will have assets of $380 million, putting the merged credit union in the top 10 largest in Maine, with over 90 employees, according to a news release.
The merger will become effective Jan. 1.
Penobscot County FCU, headquartered in Bangor, was founded in 1968 to serve the workers at the Old Town Mill and later was granted a charter expansion to include all of Penobscot County.
County Federal Credit Union was founded in 1956 as Loring Federal Credit Union to serve the military and civilian workers at the Loring Air Force Base. After a name change in 1983, County serves central and southern Aroostook County.