Presque Isle, Maine-based County FCU and Old Town, Maine-based Penobscot County FCU have agreed to merge.
The merger is expected to be completed April 1, 2020, with current County FCU President and CEO Ryan Ellsworth becoming the president and CEO of the combined organization.
Current Penobscot County FCU President and CEO Steven Baillargeon has announced his retirement but will remain on as part of the transition team and liaison for a minimum of six months and will stay longer if needed.
County FCU has assets of $248 million, while Penobscot County FCU has assets of $75 million, according to a news release.
