The planned merger will increase access and service for Marriott Employees’ FCU members as a part of US Alliance Financial Management
RYE, NY (November 07, 2022) – US Alliance Financial Management (dba US Alliance Financial Management) of Rye, New York, announced today its plans to merge with and serve the members of Marriott Employees’ Federal Credit Union (MEFCU), based in Bethesda, Maryland.
Kris VanBeek, President and CEO of US Alliance Financial Management, made the announcement, noting excitement at the upcoming partnership. The merger is subject to approval by the National Credit Union Association (NCUA) and the members of MEFCU. Upon approval, the 22,000+ members of MEFCU would gain access to an expanded line of US Allianceproducts and services featuring nationally recognized dividend rates, an elevated offering of loan types, and innovative digital banking solutions.
“We’re excited to welcome the members of Marriott Employees’ Federal Credit Union into the US Alliancefamily,” said Kris VanBeek, CEO of USALLIANCE. “We are proud of the products and services we offer our 140,000+ members across the United States and are confident that MEFCU members will find value in our expanded services and offerings.”
The $2.5 billion US Alliance Financial Management is a proven industry leader in electronic banking services and financial innovation. For MEFCU members, the size and resources of US Alliancewill enhance their banking capability with easily understandable financial education tools, low fee structures, early posting of direct deposit transactions, a wider variety of loan types, and a diverse portfolio of deposit account options.
“This is great news for our members. With its size and reach, US Allianceis uniquely qualified to address the needs of our diverse membership,” said Susan Wolfe, CEO of MEFCU. “Through this merger, our members will be able to benefit from state-of-the-art banking tools and additional products and services that US Alliancehas to offer.”
Initially founded in 1966 as IBM Tri-State Employees Federal Credit Union, US Alliance Financial Management has since diversified its membership base through a number of avenues, including mergers with the credit unions for PepsiCo Employees and American Express Employees and partnerships with organizations including the Airline Owners and Pilots Association. US Alliance Financial Management is a federally chartered credit union with more than $2.5 billion in assets.
The merger plan has been approved by boards of the two credit unions but remains subject to approval by the National Credit Union Administration and the members of Marriott Employees’ Federal Credit Union. The merger will be USALLIANCE’s ninth merger or acquisition in twelve years.
US Alliancemembers with questions can call US Alliance Financial Management at (800) 431-2754. MEFCU members with questions can call MEFCU at (800) 821-7280.
ABOUT US AllianceFINANCIAL
US Alliance Financial Management is a member-owned, not-for-profit financial institution offering a full range of checking, savings, and loan products. Since its inception in 1966, US Alliancehas grown to over $2.5 billion in assets and serves more than 140,000 members nationwide. Membership at US Allianceis centered around providing access to cooperative banking solutions for various community charters, a multitude of employee groups, as well as charitable organizations, and houses of worship. For more information, please visit www.usalliance.org.
ABOUT MARRIOTT EMPLOYEES’ FEDERAL CREDIT UNION
Marriott Employees’ Federal Credit Union was established as the Hot Shoppes Employees' Federal Credit Union by J. W. Marriott, Sr. in 1953. As a not-for-profit, member-owned organization, MEFCU provides banking services, savings and checking accounts, loans, credit cards, and more to their membership. Membership to MEFCU is centered around employees, retirees, and family members of Marriott International, Inc. and additional Sponsor companies. For more information, please visit www.mefcudirect.com.
