RICHMOND, Va. (WRIC) — A merger between Richmond-based Virginia Credit Union and Roanoke-based Member One Federal Credit Union went into effect Thursday.
As the two companies continue to integrate their systems, Member One will operate as a division of Virginia Credit Union and its members will be able to “continue to bank as they normally do,” with uninterrupted access to existing services, digital platforms, ATMs and branch locations.
“We’re grateful for the tremendous support this merger garnered from members and staff,” said Member One Federal Credit Union President and CEO Frank Carter. “By joining together two thriving, financially healthy organizations and combining our resources, we’re ensuring we can step confidently into the future and that we’re best positioned to serve our members and help them achieve financial success.”
No Virginia Credit Union or Member One branch locations will be closing and no layoffs will take place at either company due to this merger.
Both Virginia Credit Union and Member One are equal housing opportunity lenders and they are both federally insured by the National Credit Union Administration.