Members of $2.6 million ICI America Federal Credit Union have approved a merger into $442 million Del-One Federal Credit Union.
ICI America FCU, New Castle, Del., has just 505 members, according to data from the National Credit Union Administration. The tiny CU held a meeting of the membership Tuesday night.
Perhaps the biggest benefit for Del-One FCU is after the merger is complete, the Dover, Del.-based credit union will now be able to serve the employees of AstraZeneca, FujiFilm, Croda, SPI Pharma and Corn Products International.
“Employees and family members of these businesses will be able to take advantage of the many products and services Del-One has to offer, including online and mobile banking, Better Life Checking, instant issue debit cards, shared branching, Student Life Checking and so much more,” Del-One FCU said in a statement released Wednesday.
ICI America FCU listed a loss of $45,299 for 2016 in its December call report. As of Dec. 31, 2016, its net worth ratio was 10.67 percent (“well capitalized”).
Del-One FCU reported more than $3.2 million in net income in 2016. As of Dec. 31, 2016, its net worth ratio was 9.8 percent (“well capitalized”).
Del-One FCU serves 57,057 members via 10 full service branches. Del-One has been recognized as a Top Workplace and Delaware’s Best Credit Union for the past five years.
