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Subject to member and regulatory approval, the Board of Directors from Winslow Community FCU and Connected CU agreed to merge these two strong cooperative entities.
“By combining our resources, this partnership positions us for continued growth and to build financial security for the members we serve,” said Rick Lachance, longtime CEO of Connected Credit Union. “Our ability to adapt and change has brought us to this point. We’re thrilled to join forces with Winslow Community and build on the traditions of 113 years of combined service excellence. I commend the boards of our respective credit unions for their strategic vision in supporting this partnership and what it will mean for future generations of members.”
“Over many months, as we examined the opportunities that our partnership could provide, our members remained the primary focus,” said Cathy Bond, President and CEO of Winslow Community FCU. “We are confident that the current strength and stability of our individual credit unions will create one that will have the ability to continue growing and investing in positive relationships with our members and the communities we serve into the future. We want to keep our members financially ‘connected’ throughout every phase of life, whether they prefer a face-to-face relationship for services and lending or the latest conveniences in technology. ”
Winslow Community FCU currently serves over 4,700 members and credits their loyal membership and volunteers for helping them grow to $43 million in assets from their location on Monument Street in Winslow. Connected CU meets the financial needs of over 3,800 members and manages $44 million in assets from locations on Civic Center Drive and Pierce Drive in Augusta. Both credit unions are financially strong, well-managed, well-capitalized entities that maintain the ability to grow positively on an individual basis. The approval of the union between Winslow Community FCU and Connected CU will combine these strengths to ensure long term sustainability, high service standards, safety, and security to members both current and future.