parsons federal credit union parsons fcu parsonsfcu

newspaper on desk

Merger Vote Results Announcement

Merger Vote Results Announcement

Friday, December 02, 2022

 

Dear Members, 

We are excited to announce that the merger proposal between Parsons Federal Credit Union and Skyla Federal Credit Union has been approved by the members of Parsons FCU.

After NCUA’s approval of the proposed merger on September 15, 2022, the Board of Directors of Parsons FCU presented our valued members with the opportunity to vote for or against the proposed merger. Members participated in the voting process by reviewing the merits of the proposed merger, asking questions, and casting their online and paper ballots by the November 30, 2022 deadline. Shortly after the closing of the voting window, our independent voting administrator, CUES, tabulated the votes, verified the accuracy of the results, and presented the outcome to the Board of Directors. With 57.4% of members voting YES in support of the merger, the merger is approved and the process of completing the merger moves forward. 

As previously disclosed, the merger will provide us with the ability 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. Among its other benefits, the merger will also provide our employees with access to a formal training program and a robust career development department. 

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 via email and through our website, as well as through U.S. Mail for those who have opted for paper communication. Note that our offices in Pasadena, CA and Centreville, VA will remain open and active, and you can access our website and your online banking through www.parsonsfcu.org as before. If you have any questions or comments, please call us at 1-800-765-4527. Of course, you can always access the executive team by emailing us at executive@parsonsfcu.com

Thank you for being part of this historic occasion and for supporting the opportunity to create a stronger and more capable organization to better serve the growing financial needs and requirements of our membership. 

 

Bruce Hennig
Chairman, Board of Directors