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2 Pa. credit unions merging

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2 Pa. credit unions merging

In Johnstown, Pa., JSTC Employees FCU is merging into Ussco Johnstown FCU, The (Johnstown) Tribune-Democrat reported.

The merger is subject to regulatory approvals and membership votes and is anticipated to close by mid-2018.

Ussco Johnstown FCU CEO Todd Cover will keep his post as CEO of the combined organization, which is expected to have assets of more than $126 million, member deposits of $112 million, loans of $66 million and a total net worth of more than $13 million.

SNL data shows that as of Sept. 30, Ussco Johnstown FCU had assets of $101.7 million, while JSTC Employees FCU had $22.9 million in assets.