CTCE Federal Credit Union to Merge with Visions Federal Credit Union

Endicott, NY, November 1, 2013

Visions Federal Credit Union, a $3.2 billion credit union headquartered in Endwell, New York and CTCE Federal Credit Union (CTCE), a $78 million dollar credit union serving the financial needs of the city of Reading, Pennsylvania and select employer groups in the region, are pleased to announce approval by the National Credit Union Administration for CTCE FCU to merge with, and into, Visions Federal Credit Union.

The effective merge date of the two credit unions is December 1, 2013. Post-merger, Visions will have 34 office locations in parts of New York, New Jersey, and Pennsylvania, nearly $3.3 billion dollars in assets, and more than 171,000 members. All current CTCE locations will remain open.

"This merger opportunity will not only provide our membership with greater access to resources in Pennsylvania, but will allow us to grow within that region while providing the CTCE members with improved rates, enhanced product selections, and additional services. We look forward to continuing CTCE's rich history of supporting the community and are excited about the future of our combined organization," stated Tyrone Muse, President & CEO of Visions.

CTCE has been part of the Reading, Pennsylvania community since 1970 and were founded to serve the employees and families of Carpenter Technology Corporation. Over the years their membership has grown to include residents of the greater Reading community and many select employer groups to include: Carpenter, Boscov’s, Redner's Warehouse Markets, and the city of Reading.

Staying true to the credit union philosophy of "people helping people" Visions is pleased to welcome CTCE FCU employees and members into their credit union family and look forward to meeting the financial needs of the city of Reading and its surrounding communities.

Visions Federal Credit Union, headquartered in Endwell, New York, has over $3 billion dollars in assets and serves more than 158,000 members, with 30 branches located throughout Central New York, portions of Rochester and Syracuse, New York, Northern Pennsylvania, and portions of Northern New Jersey.