Charlotte Metro Credit Union Announces Member Approval for Merger with Premier Federal Credit Union

CHARLOTTE, N.C., April 5, 2021 /PRNewswire/ -- Charlotte Metro Federal Credit Union (CMCU), a full-service, not-for-profit financial institution based in Charlotte, today announced that the members of Premier Federal Credit Union (PFCU) have approved the merger between the two organizations. Approval was received through online voting and mail-in ballots with a special meeting for questions and concerns held virtually on Zoom on Monday, March 29 at 12:00 p.m.

The merged credit union will offer expanded products, services and locations to members throughout the Charlotte metro region and defined areas in Kings Mountain, Forest City, Guilford County and Randolph County, North Carolina. The combined membership will be approximately 91,000 which will be served via an expanded portfolio of high-tech mobile products, 24/7 call center access, an extended ATM network and 17 branch locations. The newly formed credit union will have assets of approximately $1 billion.

"We are pleased to announce the merger between CMCU and PFCU to create a more expansive and competitive credit union to serve the financial needs of our members with increased accessibility, technology and financial products," said Bob Bruns, President and CEO, Charlotte Metro Credit Union. "This partnership is an exceptional milestone for our member communities and marks a new phase in the expansion of our personalized and comprehensive financial services."

"Like PFCU, CMCU is dedicated to providing unparalleled, personal service and we are excited to be uniting our operations to better service our members," said Lori Thompson, President and CEO, Premier Federal Credit Union. "By merging the people, products, services and operations of our two credit unions, we are able to have an even greater impact on the lives of those we serve."

Once the merger is complete, which is expected in August 2021, the combined credit union will be releasing a new brand name. Bob Bruns will be CEO for the merged credit union, with Eric Gelly, President and Lori Thompson, Chief Operating Officer. You can view the latest news on merger developments at https://www.cmcu.org/about-cmcu/news/.

About Premier Federal Credit Union
Premier Federal Credit Union was charted in 1963 and currently serves members from 7 branch locations in North Carolina. With assets of approximately $226 million, Premier offers a full range of consumer financial services. Deposits are insured by the National Credit Union Share Insurance Fund. The corporate office is located at 1400 Yanceyville Street, Greensboro, North Carolina. Premier FCU can be found on the internet at www.premierfcu.org and on Facebook, Instagram and Twitter.

About Charlotte Metro Credit Union
Charlotte Metro Federal Credit Union is a full-service financial institution based in Charlotte, N.C. Anyone who lives, works, worships or attends school in Cabarrus, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, or Union counties in N.C. or Chester, Lancaster, or York counties in S.C. can open an account. As a not-for-profit cooperative, Charlotte Metro is wholly owned by its more than 63,000 depositors and operates under a federal charter. Each depositor is insured up to $500,000; $250,000 by the National Credit Union Association (NCUA) and up to an additional $250,000 through Excess Share Insurance (ESI). Founded in 1962, Charlotte Metro has ten branch locations throughout the region. Learn more at www.cmcu.org.

Media Contact:
Erin Jones
Avista Public Relations for CMCU
704-664-2170
[email protected]

SOURCE Charlotte Metro Credit Union