In light of increased regulatory compliance burdens and the need to upgrade expensive technologies, Specialty
Federal Credit Union, formerly Slater-Steel, fell victim to the tight financial times like so many other financial institutions and businesses in 2009. Specialty FCU sought a merger partner that would benefit their membership and in their search they found a home with Fort Financial Credit Union, also headquartered in Fort Wayne.
The National Credit Union Administration formally approved the merger of Specialty Federal Credit Union with Fort Financial Credit Union (FFCU) in March 2010. The consolidation provides former Specialty members with improved product offerings and technologies that were not previously available to them. At Fort Financial, these members now have access to online banking and the convenience of more branch locations with evening and weekend hours at all three Fort Wayne Meijer stores as well as the Meijer store in Marion, IN.
FFCU is currently placing a large investment in new and upgraded technology. This will not only allow members to access some of the latest and greatest, but assures that Fort Financial has the ability to build and keep pace with members’ future needs. Fort Financial was definitely the partner of choice for Specialty. FFCU was able to bring over the entire Specialty staff. FFCU is proud to complete a merger that leaves the legacy of both credit unions alive; blending families, making them both stronger in the long run.
Financial times are tight for everyone. Because of this, many credit unions may not be able to keep up with the inevitable demands of technology, compliance and future investments. Rest assured, if these credit unions find themselves in that situation, FFCU is the preferred choice for merger partnership.
Pictured at left: Pamara Simmons, Specialty Federal Credit Union Manager & Steve Collins, FFCU President & CEO |