Credit Union to Receive Approval for Bank Purchase
State and federal regulators are expected to approve the acquisition of Advance Mutual Savings Bank by the Municipal Employees Credit Union of Baltimore (MECU). MECU, a $1.2 billion credit union, will be acquiring the $61 million bank’s loans, investments, real estate, accrued interest receivables, etc., along with all deposits. The final purchase price has not been announced. [10/21]