Riverside Health System Employees Credit Union, an $8 million credit union located in Newport News, has announced its intent to merge into 1st Advantage Federal Credit Union, an $800 million credit union headquartered in Yorktown. The merger is planned for early 2021.
Riverside Credit Union notes this was a strategic decision to offer members enhanced services, products, and added convenience. The merger has been approved by the boards of both credit unions and the National Credit Union Administration.
“Throughout this process, the RHSECU Board of Directors Board has been steadfast in its commitment to looking after the best interest of our members and has evaluated several potential merger partners,” noted RHSECU board member Mike Doucette. “With careful consideration, we have decided it is in the immediate and long-term best interest of membership to merge into 1st Advantage Federal Credit Union, Merging into 1st Advantage allows us to enhance the value of credit union members...
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