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Berks utility credit union members approve merger

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Utilities Employees Credit Union in Spring Township. (Contributed)
Utilities Employees Credit Union in Spring Township. (Contributed)

Wyomissing-based ClearChoice Federal Credit Union members voted in favor Monday of the proposed merger with the billion-dollar Utilities Employee Credit Union based in Spring Township.

The Pennsylvania Department of Banking and Securities and the National Credit Union Administration gave regulatory approval in September.

The merger is expected to be effective Nov. 30.

Operations would combine in January under the Utilities Employee Credit Union name.

UECU was founded in 1934 to serve utility and energy industry employees. It has more than 45,000 members from more than 550 utility, energy and related companies across the United States. About 26,000 of its members are in Pennsylvania. It has $1.2 billion in assets.

ClearChoice was founded in 1957 by employees of the UGI Corp. It serves more than 2,300 members, including 1,500 in Pennsylvania, and has assets of $15.7 million.

The ClearChoice Wyomissing branch will remain open until Jan. 5.

Patricia Zyma, president and CEO of UECU, said in a statement, “UECU has been serving employees in the utility and energy industries for over 80 years. We look forward to building our relationships with the ClearChoice utility and energy select employee groups and other partner companies, as we welcome the ClearChoice members and credit union employees to the UECU family.”

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