Fort Washington’s TruMark Financial Credit Union has agreed to buy the Philadelphia Mint Federal Credit Union, writes Jeff Blumenthal for Philadelphia Business Journal.
This marks TruMark’s tenth deal in the last 11 years as it gradually acquires small but very active credit unions. TruMark has also moved its headquarters from Trevose to Fort Washington, and become the official financial institution of the Philadelphia Union.
TruMark is Philadelphia region’s third largest credit union with close to $2 billion in assets and over 117,500 members spread over 23 branches in the five southeastern Pennsylvania counties. Membership is open to anyone who lives, works, worships, volunteers, or goes to school in the five-county area.
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Philadelphia Mint at Independence Mall has a nearly eight decade long history. Currently it has just one employee, around 365 members and over $750,000 in assets. Membership is open to government employees and members of their immediate family.
However, there is no word yet on whether TruMark will combine Philadelphia Mint with its Dow Northeast Employees Federal Credit Union which is also headquartered at Independence Mall.
Read more about TruMark’s acquisition at Philadelphia Business Journal by clicking here.
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