Proposed ArrowPointe Merger with Founders Federal Credit Union
The anticipated merger is expected to be complete by year-end 2021.
ArrowPointe FCU members will be mailed a voting ballot packet and a special meeting will be held to finalize the voting process before the merger is accepted. Founded in 1960, ArrowPointe FCU is a full-service, not-for-profit financial cooperative serving York, Lancaster and southeast Chester Counties. The credit union has over $177 million in assets with seven offices and nearly 19,000 members.
If approved by their members, ArrowPointe FCU will become Founders Federal Credit Union, bringing Founders’ assets to over $3 billion. All ArrowPointe FCU offices are expected to be retained as Founders Federal Credit Union offices and ArrowPointe employees will also make the move to Founders.
Tim Lyda, CEO of ArrowPointe FCU said, “By joining Founders, our members will experience the same excellent service with additional resources and financial tools.” Lyda noted that the credit union considered several merger partners but their Board of Directors considered Founders the obvious choice.
Founders Federal Credit Union President and CEO, Bruce Brumfield stated his commitment to making the merger as easy and seamless as possible for ArrowPointe members and employees. “We already share many common bonds with ArrowPointe and we believe this will be a positive experience for everyone. We look forward to serving ArrowPointe members and providing them with the same personal service along with strengthened financial offerings.”
About Founders Federal Credit Union: The credit union, one of the largest and most innovative in the nation, was founded in 1950 in Fort Mill, South Carolina to provide financial services to the employees of Springs Industries, Inc. Founders serves over 226,000 members and has more than 30 locations. The credit union has over $2.9 billion in assets.
About ArrowPointe Federal Credit Union: ArrowPointe Federal Credit Union is a full-service, not-for-profit financial cooperative serving York, Lancaster and S.E. Chester Counties since 1960. With assets over $177 M in assets and seven branches, the credit union serves nearly 19,000 members. Offerings include free checking, savings, mortgages, credit cards, share certificates, money market accounts, IRAs, investment, affiliated insurance services and certified financial counselors. ArrowPointe’s success is driven by a commitment to delivering service focused on members’ best interests.