CHARLESTON, W.Va. – Charleston Newspapers FCU has agreed to merge into Members Choice WV FCU, the latest media credit union to close its presses.
The tiny newspaper employees’ credit union, with just $2.3 million in assets and 310 members, cited dwindling membership for the merge into the $79 million Charleston credit union. Charleston Newspapers FCU was chartered in 1939 to serve employees of the Gazette and Daily Mail.
The elimination of the local newspaper employees credit unions follows recent mergers of Media Hawaii FCU, the credit union for the Honolulu Star Bulletin; Madison News CU for Wisconsin’s Capital Times, Wisconsin State Journal and Capital Newspapers; Fort Worth Telegram Employees FCU; Boston Globe Employees CU; (New Orleans) Times Picayune Employees CU; and, First Edition Community CU, which served the Arizona Republic newspaper.
