Arrow Pointe FCU Announces Proposed Merger With Founders FCU

Posted September 29, 2020 8:21 am | Filed under Featured, Local News

Lancaster, SC – ArrowPointe Federal Credit Union has notified its members of a proposed merger with Founders Federal Credit Union.

The anticipated merger is expected to be complete by year-end 2021.

ArrowPointe FCU members will be mailed a voting ballot packet and a special meeting will be held to finalize the voting process before the merger is accepted.

Founded in 1960, ArrowPointe FCU is a full-service, not-for-profit financial cooperative serving York, Lancaster and southeast Chester Counties. The credit union has over $177 million in assets with seven offices and nearly 19,000 members.

If approved by their members, ArrowPointe FCU will become Founders Federal Credit Union, bringing Founders’ assets to over $3 billion. All ArrowPointe FCU offices are expected to be retained as Founders Federal Credit Union offices and ArrowPointe employees will also make the move to Founders.

Tim Lyda, CEO of ArrowPointe FCU said, “By joining Founders, our members will experience the same excellent service with additional resources and financial tools.” Lyda noted that the credit union considered several merger partners but their Board of Directors considered Founders the obvious choice.

Founders Federal Credit Union President and CEO, Bruce Brumfield stated his commitment to making the merger as easy and seamless as possible for ArrowPointe members and employees. “We already share many common bonds with ArrowPointe and we believe this will be a positive experience for everyone. We look forward to serving ArrowPointe members and providing them with the same personal service along with strengthened financial offerings.”