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SAN ANTONIO, TX, May 01, 2018 -- Air Force Federal Credit Union (AFFCU) and Local 142 Federal Credit Union (Local 142 FCU), both located in San Antonio, TX, announced that their merger received regulatory approval from the National Credit Union Administration (NCUA) and became effective on April 27, 2018.
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As terms of the merger agreement, AFFCU will be the continuing credit union with a total of $408 million in assets and over 47,000 members. AFFCU President/CEO Robert A. Glenn remains the CEO of the combined organizations.
“We are honored that the board of directors and members of Local 142 were unanimous in their approval to become our partner,” said Bob Glenn. “AFFCU welcomes its members and looks forward to serving them in the future.”
The merger broadens AFFCU’s branch network to seven locations in and around San Antonio. New Local 142 FCU members will also have access to those branches, as well as the shared branching network with over 5,000 locations and the CO-OP ATM network with nearly 30,000 ATMs worldwide.
AFFCU will absorb all Local 142 staff and their lone branch at 501 Quincy Street in San Antonio, TX. Local 142 FCU serves the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry, San Antonio Building and Construction Trade Council, United Steel Workers (USW), Amalgamated Clothing and Textile Works Union (A.C.T.W.U.), Service Employees International Union (SEIU) and other local union workers in Bexar and surrounding counties for over 65 years.
“This strategic partnership now provides Local 142 FCU members with exceptional personalized service, while having access to greater products and services,” said Glenn. “Our goal is to provide them the best financial service whenever and wherever they may be. We look forward to meeting this mission moving forward.”
AFFCU
AFFCU serves the diverse needs of over 47,000 members worldwide with a full array of financial services and the strength of more than $408 million in assets. For additional details about AFFCU, visit www.airforcefcu.com.
Danny Sanchez Air Force Federal Credit Union (210) 678-5233 [email protected]
