DURHAM, N.C. Self-Help CU is looking to pick up six branches in North Carolina and one in Virginia with the proposed deal for Asheville-based United Services CU, one of the biggest mergers undertaken by the $600-million community development credit union.
United Services is healthy, with $61 million in assets and more than 13% net worth at mid-year, earning net income of $102,000 for the first six months of the year.
A representative for Self-Help said the combination “is not a done deal” yet because the members of the smaller credit union have not voted. He added United Services has been exploring expansion opportunities to better serve its members.
United Services has a field of membership covering Buncombe, Burke, Catawba, Henderson, Lincoln, Madison, McDowell and Mitchell Counties in North Carolina, only two of which also are served by Self-Help. United Services also is open to employees of any medical facility or medically related group in the Asheville area.
Self-Help CU is the state chartered credit union affiliated with the Center for Community Self-Help, but distinct from an affiliated, $580-million federal charter based in California, called Self-Help FCU.
