Progress on the Merger with Penobscot County FCU

The Nation Credit Union Administration (NCUA) has approved the merger of The County FCU and Penobscot County FCU and we are now ready to move on to the final stage of the process. The final stage is a vote by the membership of Penobscot County FCU.

PCFCU’s membership has been invited to a Special Meeting being held to discuss the merger on December 21. The meeting will be at 5:30 PM and due to COVID-19, it will be a virtual meeting. Members of PCFCU will need to register for the meeting 72 hours in advance if they intend to participate in the virtual meeting that evening. The notice of the meeting, along with a paper ballot, was mailed to the members on Monday, November 2, 2020. If a member prefers to send in their ballot, or drop it off as opposed to participating in the meeting to cast their vote, they have that opportunity.

Here’s why a merger Penobscot County FCU and The County FCU is a great idea:

“Simply put, we want to ensure that we continue to grow and thrive into the future of an ever changing financial services market and give the members the best options that a credit union has to offer.”
John St. Peter Chairman of the Board of Directors, PCFCU

“We recognize the opportunity for achieving strategic growth and market expansion through partnership in an ever-changing competitive environment. For the memberships the combined credit union will offer greater levels of member service, diversification of risk, better accessibility and will allow us to make the right long-term infrastructure and technology investments to remain competitive.
— Ryan Ellsworth, President and CEO, The County FCU

MERGER INFORMATION

Wondering how merging with Penobscot County FCU will benefit you?

  • You will see the same smiling faces and enjoy more of the first-class service you’re used to.
  • Your credit union will continue to grow and thrive at an accelerated rate.
  • With the combined financial strength you will have access to better rates and benefit from the efficiencies and sustainability of a larger credit union.
  • Enjoy access to three more branches in Howland, Old Town, and Bangor.
  • Continued access to a dedicated home mortgage team of lenders with a robust arsenal of new product opportunities.
  • Continued quicker access to financing at your favorite Auto, Truck, Power Sport, or RV dealer through an expanded network.
  • Your credit union will have greater market expansion opportunities.

We are so excited to be partnering with Penobscot County FCU! We think you’ll find that our purposes, goals, and cultures align in such a way that combining the two credit unions will exceed your expectations. Check out Penobscot County FCU website for yourself at PenobscotFCU.com

Still have questions on the merger, Visit our FAQ page