New Jersey's Affinity Federal Credit Union Merges with NEA Federal Credit Union.
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.
Sector: Banking/Financial Services
Target: NEA Federal Credit Union
Buyer: Affinity Federal Credit Union
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Terms of the deal were not disclosed
|Printer friendly Cite/link Email Feedback|
|Publication:||M & A Navigator|
|Date:||Sep 6, 2017|
|Previous Article:||Ancor Capital Acquired Three Platform Companies During the First Half of 2017.|
|Next Article:||Veritiv Closes Acquisition of Rigid Packaging Distributor All American Containers.|