Two Connecticut credit unions have applied for a merger with their state regulator.
Sikorsky Financial Credit Union in Stratford, Connecticut, plans to merge with the much smaller Bridgeport City Employees Federal Credit Union, according to a post on the Connecticut Department of Banking's website.
The merger application was filed Nov. 14, and the proposed effective date of the merger is March 31, 2023.
The $1.1 billion-asset Sikorsky Financial earned $8.4 million in the first nine months of 2022, a 93% increase compared with a year earlier, according to call report data from the National Credit Union Administration.
The $32 million-asset Bridgeport City Employees FCU earned $175,000 in the first nine months of 2022, after losing nearly $10,000 a year earlier.
