FOR IMMEDIATE RELEASE
Contact:
Victor Vrigian
SVP, Marketing and Member Service
518-292-3835
victor.vrigian@membersunited.org
Central Credit Union Fund Officially Merges with
Members United Corporate Federal Credit Union
(Warrenville, IL, December 3, 2007) On Friday, Central Credit Union Fund and Members
United Corporate Federal Credit Union officially merged. The National Credit Union
Administration (NCUA) approved the merger in September of this year. The members of Central
Fund overwhelmingly approved the merger in June, and the Massachusetts Division of Banks
granted their approval in July.
To assure consistency and continuity in service quality, Central Fund’s member contact staff has
been retained, and an office in Massachusetts will be maintained to deliver the same local,
personalized service the state’s credit unions were accustomed to receiving. This commitment to
quality member service, and to Central Fund’s 208 member credit unions and credit union
organizations, was fundamental to both corporates during the entire merger process.
In addition, John R. Caulfield, President & CEO, St. Mary's Credit Union, Marlborough,
Massachusetts, and Central Fund’s previous board chair, has been appointed to Members United’s
board of directors.
“We are pleased that Central Fund’s members are now a key part of the Members United family,”
stated Joseph P. Herbst, CEO, Members United. “With our commitment to personalized member
service and a local presence in Massachusetts, a unique innovation department, as well as our
extensive product depth and financial strength, we now serve nearly 2,300 credit unions of all sizes
throughout the nation.”
“This merger is a clear ‘win’ for Massachusetts’ credit unions,” noted James L. Van Arsdale,
former President and CEO of Central Fund, now Sr. Vice President, Massachusetts Market, at
Members United. “They can enjoy a broad array of competitive products and services, tap into the
vast resources of Members