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New Jersey's Affinity Federal Credit Union Merges with NEA Federal Credit Union.

MANews-(C)2009-2017

6 September 2017 - New Jersey, US-based financial services organisation Affinity Federal Credit Union (Affinity) has merged with NEA Federal Credit Union, the CU said.

The deal establishes one of the largest credit unions in the northeast US.

Effective 1 September 2017, the merger will create a CU serving more than 140,000 members across New Jersey, New York and Connecticut.

The merged entities will operate under the Affinity brand.

Affinity is the largest credit union headquartered in the state of New Jersey, and its merger with NEA has grown its brick-and-mortar footprint from 16 to more than 20 branches.

The CU has over 140,000 active members and assets approximating USD 2.8bn.

Country: USA

Sector: Banking/Financial Services

Target: NEA Federal Credit Union

Buyer: Affinity Federal Credit Union

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:1U2NJ
Date:Sep 6, 2017
Words:153
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