The members of Mountain Valley Federal Credit Union, based in Peru, Clinton County, have voted to merge their credit union with AmeriCU Credit Union, based in Rome, Oneida County. The proposed merger will enable the two long-respected, not-for-profit Upstate New York credit unions to expand access to services, expertise and branch locations for members and businesses across the Northern and Central New York regions.

Mountain Valley members voted by mail and in-person at a special membership meeting on September 18. Pending final approval by the New York State Department of Financial Services, the merger is expected to be finalized by year end.

AmeriCU has been serving members who live or work in Clinton and Essex counties for a number of years. The expanded AmeriCU credit union will serve more than 180,000 members across 24 counties, with 25 locations and combined assets of $2.8 billion, providing an even stronger foundation to help members achieve their financial goals and to support the many communities in which they live and work.

Other highlights of the merger include:

• Mountain Valley’s four branch locations – all in Clinton and Essex counties – will become AmeriCU branches and make up AmeriCU’s Mountain Valley Region. All Mountain Valley employees have been offered the opportunity to continue working for the combined organization.

• For Mountain Valley members, joining with AmeriCU will provide them with access to a greater array of financial services than a credit union the size of Mountain Valley is able to provide. These include a full suite of mortgage solutions; home equity, auto, personal and student loans; an extensive array of small business services; more checking and saving account options; investment and insurance teams to help them grow and protect their assets; free financial counseling; a member rewards program, and more. Mountain Valley members will also benefit from many new technological advantages, including AmeriCU’s Virtual Financial Center, online and mobile banking solutions and Interactive ATM Network.

• The addition of the four Clinton and Essex counties branches will give AmeriCU members who live in or visit those counties a convenient new way to access their credit union’s services.

• The proposed merger will enable AmeriCU and Mountain Valley to deepen their shared commitment to philanthropy, volunteerism and financial literacy education in the communities in which their members live and work. Mountain Valley is known throughout Clinton and Essex counties for its employee volunteerism and commitment to supporting not-for-profit organizations. AmeriCU recently established the AmeriCU Charitable Foundation, solidifying its commitment to community philanthropy. AmeriCU invests more than $800,000 per year in its communities and provides its employees with additional paid time off specifically for use in volunteering for charitable causes.

• AmeriCU President & CEO Ron Belle will continue in that role in the combined organization. Mountain Valley CEO Maggie Pope, a well-known and highly regarded business leader in Clinton and Essex Counties, will become Assistant Vice President for Community Engagement in AmeriCU’s newly developed Mountain Valley Region. Amy Gonyo will serve as Regional Director AVP, Mountain Valley Region.

Mountain Valley Federal Credit Union CEO Maggie Pope said, “The benefits and opportunities available to Mountain Valley members through this merger will be tremendous. Members will have access to a much broader array of financial services, as well as the latest in technology, combined with the same personalized service and attentive team members they’ve come to rely on at our four branches. Mountain Valley proposed this merger to AmeriCU because, while they are larger, we are remarkably similar. AmeriCU knows and respects the Clinton and Essex counties communities, our memberships are very much alike, and they share our mission of People Helping People and our deep commitment to community involvement.”

AmeriCU President & CEO Ron Belle said, “AmeriCU made a commitment to serve the people and businesses of Clinton and Essex counties a number of years ago. We value our members who live and work in these communities, and we are excited by the prospect of planting even deeper roots and building on Mountain Valley Federal Credit Union’s incredible legacy of service, trust and mutual respect. The merger will enable AmeriCU to further our mission of providing modern, innovative financial solutions to meet the needs of more communities, individuals, families, and businesses. We are honored that Mountain Valley asked to merge with AmeriCU and we look forward to creating a stronger, more helpful credit union for the people, families and businesses of Clinton and Essex counties.”

AmeriCU Board of Directors Chair Nick Fabrizio said, “This merger demonstrates the power of collaboration to further a common goal. As not-for-profit credit unions, AmeriCU and Mountain Valley share a commitment to providing unparalleled service to our members and the broadest array of financial services possible. The Board of Directors and management of Mountain Valley have shown tremendous vision and leadership in recognizing that the best way to achieve that for their members is to become part of a larger, combined organization, with more financial resources and a greater breadth of expertise. The members of both credit unions – and the communities we serve – will all benefit from this coming together of like-minded organizations.”

The merger was initiated by Mountain Valley and unanimously approved by its Board of Directors earlier this year, citing the many similarities in the organizations’ origins, foundational values, commitment to member satisfaction, and community involvement. Mountain Valley Board President Kathleen E. Roach, whose late father, the beloved Peru Central School teacher John Roach, founded the credit union in 1963, said, “My dad would be so proud.”

The merger has also been approved by the National Credit Union Administration (NCUA), the federal agency that regulates federal credit unions.

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