XCEL FCU in Bloomfield, New Jersey has acquired the Manhattan-based NBC (NY) EFCU through a merger.
Effective April 1, the combined credit unions will hold over $200 million in assets, and serve more than 18,000 members. The merger will provide new opportunities, improved services, expanded locations and a team of skilled member advocates dedicated to fostering financial wellness, XCEL FCU said in a press release.
“We are committed to continue the rich tradition of member service which has been a hallmark of NBC (NY) EFCU,” said Arlene Bernard, president/CEO of XCEL FCU. “This merger will benefit the members of NBC (NY) EFCU by joining forces with a credit union that innovates member-centric technologies to provide exemplary member service.”
All employees of NBC (NY) EFCU will remain with the credit union. Charles Young, former CEO of NBC (NY) EFCU, will serve as XCEL’s vice president and chief operating officer.