2 credit union banks in Maine seek to merge businesses

SANFORD, Maine (AP) - Two credit union banks in Maine say they intend to merge, citing the interests of their members.

York County Federal Credit Union of Sanford and Atlantic Federal Credit Union of Brunswick made the announcement Monday, saying they believe it is in the immediate and long-term interest of their customers to pursue a merger. The Portland Press Herald reports Atlantic has roughly $363 million in assets and more than 21,000 members and York has assets of about $303 million and more than 23,000 members.

The credit unions say through the merger they would have access to nearly double the branch locations with a complementary footprint, adding greater convenience and access across southern Maine.

The banks say no branches would face closure from a merger.

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Information from: Portland Press Herald, http://www.pressherald.com