Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Mid-Atlantic Corporate and VACORP complete merger
MIDDLETOWN, Pa. (2/7/12)--Mid-Atlantic Corporate FCU in Middletown, Pa., and VACORP FCU, Lynchburg, Va., completed their merger and opened as a combined institution Monday.

Mid-Atlantic Corporate is the continuing charter and is maintaining its current location in Middletown, Pa.

Mid-Atlantic said that the merger, combining more than 800 credit union members and over $163 million in capital, creates one of the strongest corporates in the country.

"This merger exemplifies the power of credit unions working together for a common good and demonstrates the value of the cooperative corporate model that credit unions built," said Jay Murray, president/CEO of Mid-Atlantic Corporate. 

The combined entity has total assets of $4.1 billion. Its capital ratios are:

  • Retained earnings ratio of 0.49%;
  • Leverage ratio of 5.4%;
  • Tier 1 risk-weighted capital ratio of 19%; and
  • Total risk-weighted capital ratio of 22%.
"The combined institution will give us the opportunity to grow the usage of our products and services, which will help keep costs down for all members," Murray said.


RSS print
News Now LiveWire
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
11 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
13 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
14 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
14 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
14 hours ago