READING, Pa. – Members of Berks Community FCU approved the merger of the ailing credit union into smaller Bellco FCU, creating a $110 million credit union serving 14,000 members.
Berks Community, a $50 million credit union, had a $239,000 loss for 2008 and a $984,000 loss for the first three quarters of 2009. Bellco, with $60 million in assets, reported a $39,000 net for the first three quarters.
The boards of directors from both credit unions unanimously approved the merger earlier in the month.
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