Alabama credit union buying branches from neighboring bank
Family Savings Credit Union said it will buy two branches in Dekalb County from Huntsville-based Merit Bank.
It is not just whole banks that are being acquired by credit unions this year – a number of branch deals have been announced too.
The latest: Rainbow City, Alabama-based Family Savings Credit Union said it will buy two branches from Huntsville-based Merit Bank.
Financial terms of the deal, which is expected to be completed in the first half of 2025, were not disclosed.
Under the terms of the agreement, the $1 billion-asset Family Savings will acquire the physical locations and most of the deposits and loans associated with the branches in Valley Head and Ider.
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