-UFCU announces completion of acquisition.
Global Banking News - 03 January 2012
United Federal Credit Union (UFCU) has announced that it has completed the acquisition of Griffith Savings Bank in Griffith.
According to UFCU, this is the first time that a federally chartered credit union has purchased the assets of a state-chartered, FDIC-insured mutual savings bank.
Gary L Easterling, president and CEO of United Federal Credit Union, said, 'The purchase of Griffith Savings Bank is a major achievement for us. We have, of course, set an important precedent in the world of banks and credit unions, but even more importantly, we look forward to bringing our style of people-first member service to the residents of Griffith.'
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