Proposed Merger with PenAir Credit Union
Legacies of Service. A Future of Opportunity.
FMCU MEMBER FAQ
Fort McClellan Credit Union and PenAir Credit Union have announced plans to merge, subject to regulatory approval and a vote of eligible Fort McClellan Credit Union members. FMCU members will continue using your accounts, cards, checks, branch locations, and digital banking services as you do now. Below are a few frequently asked questions about the proposed merger, timeline, and what will happen in the future.
Fort McClellan Credit Union and PenAir Credit Union have announced plans to merge, subject to regulatory approval and a vote of eligible Fort McClellan Credit Union members. This is an important step in our future and one we believe creates new opportunities for members, employees, and communities. Most importantly, there is nothing you need to do today.
For more than 70 years, Fort McClellan Credit Union has proudly served members and communities throughout Alabama. We believe this partnership allows us to build on everything that has made Fort McClellan Credit Union successful while creating new opportunities for members in the years ahead.
Choosing the right partner was important. PenAir stood out because of the many values our organizations share: member ownership, community focus, financial strength, personal service, and helping people improve their financial well-being.
For now, very little is expected to change. Continue using your accounts, cards, checks, digital banking services, and local branches as you do today.
Benefits include a special member dividend, expanded access through 22 locations and growing, broader products and services, continued local service, and greater resources for the future.
No immediate changes are planned. When changes become necessary, you will be notified well in advance.
Your rates on fixed-rate loans and certificates will stay the same until the end of their current terms. Other products will adjust as usual, based on market conditions.
For now, continue using your FMCU and PenAir accounts as you do today. We will provide clear updates and support before any future account or system change requires action.
Yes. Your deposits will continue to be federally insured through the National Credit Union Share Insurance Fund.
No. This merger is about carrying FMCU’s legacy forward while creating new opportunities for members and communities. While the name will eventually change, the legacy and history will still be a major part of the future organization.
The continuing credit union will be PenAir Credit Union. Following the legal merger, FMCU locations are expected to operate for a period of time under “Fort McClellan Credit Union a division of PenAir Credit Union.”
Yes, absolutely! Both credit unions are committed to remaining member-owned and not-for-profit financial cooperatives. This merger will allow us to grow responsibly while staying true to our purpose of putting members first.
Both credit unions are committed to retaining employees and supporting them throughout the merger process. We believe the merger can create opportunities for employees while helping ensure the knowledgeable, friendly people members know and trust remain part of the future organization.
Lee Morgan, PenAir’s president and CEO, will lead the combined organization as president and CEO. Angela Smith, FMCU’s president and CEO, will serve as president of the Fort McClellan Division during the integration, helping provide leadership and continuity as the organizations come together.
The combined organization is expected to serve more than 155,000 members through 22 locations across Alabama, Florida, and Virginia. For members, the value is not simply in becoming larger. It is in having expanded access to branch locations, member service centers, and support for your financial journey; as well as the ability to invest in the services, technology, employees, and communities that matter to you.
Approvals and Timing
The proposed merger must receive regulatory approval and approval from eligible Fort McClellan Credit Union members. Until those approvals are received, PenAir and FMCU will continue operating as separate credit unions.
Eligible FMCU members will vote on the proposed merger after regulatory approval. Approval requires a two-thirds majority of the FMCU members who participate in the vote.
The legal merger is currently expected in the first half of 2027, subject to required approvals. Operational integration would continue in phases through 2027 and into 2028. Timing may change, and we will share updates as important milestones are reached.
Bringing two credit unions together involves careful planning. Taking a phased approach helps the organizations make thoughtful decisions, keep members informed, and reduce disruption. There is no immediate action for PenAir or Fort McClellan members while that work continues.
Updates will be shared through member communications, website updates, branch communications, and FAQs. Questions may be directed to [email protected].
Thank you for your trust and for allowing Fort McClellan Credit Union to be part of your financial journey.
We look forward to building this next chapter with you.