With the acquisition of Keystone Federal Credit Union, the Philadelphia region’s third-largest credit union is expanding its presence in the region, writes Jeff Blumenthal for Philadelphia Business Journal.
TruMark Financial Credit Union, which recently relocated its headquarters from Trevose to Fort Washington, already has six locations in Philadelphia and Montgomery County, four in Bucks County, and two in Delaware County. The Keystone acquisition will increases its presence in Chester County from one branch to three.
TruMark announced that the merger is expected to close October 30, but did not disclose any financial details. With this acquisition, TruMark will add Keystone’s $76 million in assets to its own, creating a $1.8 billion credit union with 22 branches and 115,000 members throughout southeastern Pennsylvania.
TruMark’s is also opening a new branch later this summer on Germantown Avenue in Chestnut Hill.
According to Philadelphia Business Journal’s Book of Business Lists, TruMark is the third-largest credit union in the Philadelphia region, after Police & Fire Credit Union with $4.32 billion in assets and Citadel Federal Credit Union with $2.14 billion.
Read more about TruMark’s latest acquisition in the Philadelphia Business Journal by clicking here.