This merger supports Firstmark Credit Union’s strategic plans to expand our membership and strengthen our commitment in the communities we serve. Donald Pinson, Chairman of the Board
San Antonio, Texas (PRWEB) December 01, 2015
Firstmark Credit Union and St. Joseph’s Credit Union announced today that the merger between their two respective credit unions has been finalized. Operational integration will be completed by January 31, 2016. The merger has been approved by the National Credit Union Administration and the Texas Credit Union Department.
"Both the Firstmark Credit Union Board and the St. Joseph’s Credit Union Board were unanimous in their approval of this merger," Firstmark Credit Union Chairman of the Board, Donald Pinson said. “This merger supports our strategic plans to expand our membership and strengthen our commitment in the communities we serve,” added Pinson.
With the completion of the merger, Firstmark Credit Union will add branch locations in downtown San Antonio on Brooklyn Avenue and in Fredericksburg, Texas. In addition, the credit union will gain approximately 6,100 members and assets of $40 million.
“This merger will greatly benefit members of both organziations,” said Leon Ewing, President and CEO.
“It [the merger] gives St. Joseph’s members the added convenience of Firstmark’s 14 branch locations, access to 55,000 ATMs nationwide, advanced technology including online and mobile banking, and increased products and services,” Ewing added.
Firstmark, the surviving Credit Union, does not anticipate any changes in staffing. New signs will replace those at the former St. Joseph’s locations on December 1, 2015.
Both credit unions have a long and rich tradition within San Antonio. Firstmark was formerly known as the San Antonio Teachers Credit Union and was originally established to support the financial needs of educators from the San Antonio Independent School District. St. Joseph’s was chartered in 1933 to offer quality financial services to members of the Catholic community and their families in San Antonio, Del Rio, and Fredericksburg.
About Firstmark Credit Union:
Firstmark Credit Union provides financial services to anyone who lives, works, worships or attends school in Bexar County as well as education-related employees in Bexar County and the 11 surrounding counties; and their relatives. Established in 1932, the Credit Union has 16 locations serving more than 100,000 members and manages over $1 billion in assets. For more information, go to http://www.firstmarkcu.org.