Navy Federal Purchases Three Branches From Patriots

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Patriots Federal Credit Union is transferring three branches to Navy Federal Credit Union, Vienna, Va. But Patriots Federal will retain the accounts.

PFCU will transfer its two on-base facilities at Marine Corps Air Station Miramar, California, and Marine Corps Air Station Yuma, Arizona, along with the Uptown Yuma branch office to Navy Federal. The two credit unions will conduct "dual operations" in all three facilities from early December through Dec. 31, when operations will transfer fully to Navy Federal. Patriots Federal personnel employed at the three branch facilities will be retained by NFCU.

"Achieving the transfer of these facilities is an essential part of our long- term strategic plan; it is a transfer of facilities only," said Jeff Herter, President/CEO of Patriots FCU. The accounts of members of Patriots FCU will not be transferred to Navy Federal-all existing accounts and loans will be retained by Patriots FCU. "Our members will still be able to do their personal financial business with Patriots FCU via Patriots On-Line (www.my1cu.com), home banking, bill pay, call center, ATM and check cards, Credit Union Service Center locations nationwide, U.S. mail, and they will continue to have access to the same free ATM Network."

Herter said PFCU plans to open new branch offices in Orange County, Calif. during 2004.

Military and civilian personnel working at MCAS Yuma and MCAS Miramar are eligible to join the $19.9-billion Navy Federal.

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