Visions FCU Acquires New Jersey Credit Union

Published 07/24 2014 04:49PM

Updated 07/24 2014 08:20PM

Visions has expanded its presence in Northern New Jersey.

The Endwell-based credit union has merged with Tri-Co Federal Credit Union.

Tri-Co has four branches in Northwestern New Jersey with 25 employees and $134 million in assets.

The acquisition fills a hole in Visions' New Jersey coverage territory, connecting it to branches in the Northeastern portion of the state that were added in a previous merger.

President and CEO Ty Muse says existing members benefit when Visions grows larger.

"Diversifying our mix, diversifying our portfolio, provides additional income streams which allows us to continue to be the top rate in town on dividends, as well as lower loan rates. And hopefully, help us reduce and eliminate additional fees with this other additional source of income," said Muse.

The acquisition brings Visions to 38 branches from Rochester south to Reading, Pennsylvania.

It now has close to 180,000 members and more than $3.3 billion in assets.

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