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Skyla FCU and Parsons FCU

Stronger Together

The Merger of Parsons FCU and Skyla FCU Enhances Capabilities and Resources to Better Serve the Membership

We are excited to announce that the merger proposal between Parsons Federal Credit Union and Skyla Federal Credit Union was approved by the members of Parsons FCU on November 30, 2022. Since January 1, 2023, the two entities have joined to become a single legal entity, operating under the Skyla Credit Union name.  

The merger allows the combined entity to better serve our members in the future. The economies of scale and the operational efficiencies realized through the merger are expected to offer long-term benefits to the membership, including access to a 24/7-member services team, a state-of-the-art digital platform for online banking, and a host of new products and services. However, most of the actual benefits for our membership will begin after our systems conversion is complete in August of 2023.

The next steps involve logistical and transitional processes that won’t be affecting our members or how we do business. We will continue communicating the news related to the merger and sharing the significant milestones achieved through our website. Note that our offices in Pasadena, CA and Centreville, VA will remain open and active, and members can access online banking through as before. 

For questions or comments, please review the Frequently Asked Questions (FAQ) section below or call us at 1-800-765-4527. You can also visit Skyla Federal Credit Union’s merger page by clicking the button at the bottom of this page.


Frequently Asked Questions Related to the Merger

Who is Skyla Federal Credit Union?

Skyla is the new brand name adopted by Charlotte Metro Federal Credit Union. This new brand name was brought about due to the merger of Premier FCU into Charlotte Metro FCU in 2021. Charlotte Metro FCU was founded in 1962 to serve Charlotte’s city employees. Since that time, Charlotte Metro FCU has grown significantly by reaching out to numerous groups that qualify for membership.

Skyla FCU fully embraces the credit union philosophy and service levels that we hold true at Parsons FCU. As an added benefit, Skyla FCU utilizes the same data processing system as we do, making the data conversion much easier. Combined, we will have approximately $1.4 billion in assets which gets us to the scale needed to operate successfully in the future.

Will the merged entity continue providing services to Parsons Corporation employees?

Yes. Parsons FCU was founded in 1975 to provide financial services to Parsons employees and their families. We take pride in helping Parsons employees and family members realize their financial goals and this commitment will continue unaltered. The low interest margin environment encountered in the last few years have required us to look beyond Parsons Corporation in order to add the necessary new member count to maintain offering our members competitive products and services. In the last two years, our largest growth has come from family members of Parsons’ employees and those that have joined us through American Consumer Council.

Will the Parsons FCU Offices remain open?

Yes. Both offices will remain open, and we look forward to expanding in both Pasadena, CA and Centreville, VA with the additional resources provided through this merger.

What happens to the Parsons FCU employees?

All Parsons FCU employees are being retained during this transition. As part of a larger organization, our employees will have access to additional opportunities for career development and growth. Consideration for our employees was a major part in analyzing the benefits of a merger. The Parsons FCU staff that our members are used to dealing with will continue to serve our members after the merger is completed.

What happens to Parsons FCU’s Board of Directors?

Three members of the Board of Directors will become Skyla Federal Credit Union board members. You will continue to have representation.

What will Parsons FCU members benefit from the merger?

The following are some of the enhancements from this merger: Access to a 24/7 contact center. First mortgage loans will include escrow/impound accounts. A complete business loan and business account offerings. A more robust internet and mobile banking. Access to an expanded portfolio of products and services. Access to lower borrowing rates and higher yields. More options to leverage the high-yield Kasasa® Checking accounts.

When will the merger be completed?

Legally, the merger is completed as of January 1, 2023. However, most of the actual benefits for our membership will begin after our systems conversion is complete in August of 2023.

What if I have more questions?

Please email A member of our Executive Team will respond to your questions directly.


To visit Skyla Federal Credit Union’s merger related page, please click below. 

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