COLUMBUS, GA (WTVM) – Members of MEA Federal Credit Union voted to approve the merger with Kinetic Credit Union.
The vote came at a special membership meeting on Tuesday evening and is the final step in the approval process for combining the two Columbus credit unions.
The merger received regulatory approval from the National Credit Union Administration in January.
MEA members will continue to use their current accounts and MEA branches through April 30. MEA accounts and branches will be transitioned to Kinetic accounts on May 1, 2016.
"We are thrilled at the trust and confidence that the members of MEA have put in us," said Janet Davis, President and CEO of Kinetic. "This vote serves as the final step in the approval process. We are excited about serving the members of MEA, many who have educated and supported our communities for so many years. We look forward to serving as the credit union for the teachers, administrators and support staff of the various school districts throughout our community."
The combined credit union is projected to have assets of more than $360 million and 49,000 members and will go by the name Kinetic Credit Union.
"Our members voted 'yes' to ensure they will be served by a strong, local credit union," said Polly Bell, CEO of MEA. "This strategic decision by our Board and members allows for the continuity and legacy of MEA to be preserved."
MEA's two local branches will remain open. Combined with Kinetic's seven branches, the merged credit union will have nine local branches in Columbus, Phenix City and Fort Benning. MEA's branch in Valdosta will also remain open and continue to serve members in that area.
MEA members will soon receive a Merger Guide that will provide more details on the accounts conversion.