Tiny Caney Fork Cooperative Credit Union is close to making history.

The $300,000-asset credit union in McMinnville, Tenn., recently applied to become the first credit union to merge with a savings bank - $184 million-asset Beacon Federal Mutual Savings Association. Beacon Federal, which was itself a credit union until it converted to a thrift charter last July 1, is headquartered in East Syracuse, N.Y., but it maintains an office near McMinnville, in Smartt, Tenn.

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