By Albert Amateau
St. Vincent’s Employees Federal Credit Union on Sept. 1 began its official transition into the McGraw-Hill Federal Credit Union, providing members with continued access to expanded credit services.Both St. Vincent’s credit union members and McGraw-Hill credit union members approved the merger in August.
The agreement means the 1,300 members of the St. Vincent’s credit union, with $8.5 million in assets, are now members of the McGraw-Hill credit union, with a total of 18,500 members and assets totaling $267 million.
Although the St. Vincent’s Federal Credit Union was an independent financial service organization, the closing of the hospital last year impacted the credit union’s ability to grow.
