Merger FAQs For PenAir Members
Legacies of Service. A Future of Opportunity.
Proposed Merger with Fort McClellan Credit Union
PenAir Credit Union and Fort McClellan Credit Union have announced plans to merge. The proposed merger will still require regulatory approval and a vote by eligible Fort McClellan Credit Union members before becoming final.
For PenAir members, there is nothing you need to do. Continue using your accounts, cards, checks, branch locations, and digital banking services as you do now. Below are a few frequently asked questions about the proposed merger, timeline, and what will happen in the future.
About the Announcement
Q: What does this announcement mean?
A: PenAir Credit Union and Fort McClellan Credit Union are planning to merge, subject to regulatory approval and a vote by eligible Fort McClellan Credit Union members. By bringing together two strong, community-focused credit unions, we strengthen our ability to serve members and communities. Together, the proposed merger positions the credit union to continue investing in members, employees, and communities while maintaining the personal service both credit unions are known for.
Q: Why are PenAir and Fort McClellan Credit Union merging?
A: Both credit unions are financially strong and deeply committed to the people and communities they serve. By coming together, we will have greater capacity to invest in members, employees, technology, products, services, and community initiatives. The merger gives both organizations an opportunity to build on what they do well while continuing to provide the personal service members expect.
Q: Why Fort McClellan Credit Union?
A: Fort McClellan Credit Union is a natural fit. Like PenAir, FMCU is focused on serving members well, strengthening communities, maintaining financial strength, and putting people first. FMCU has more than $224 million in assets and serves approximately 15,000 members. Together, we are bringing two proud legacies of service together to create new opportunities for the future.
Q: Do both credit unions support the proposed merger?
A: Yes. The Boards of Directors of both credit unions carefully evaluated the proposal and approved moving forward with the merger process. Regulatory approval and a vote by eligible FMCU members are still required.
Q: Is there anything I need to do as a member of PenAir Credit Union?
A: No, there is nothing PenAir members need to do. The result of the merger will be that Fort McClellan Credit Union will become PenAir Credit Union.
What This Means for You
Q: What changes for me as a PenAir member?
A: Nothing changes for you as a member of PenAir Credit Union. You can
continue using your existing accounts, debit and credit cards, checks, digital banking services, and preferred PenAir branch. You can also continue working with the same PenAir team
members you know and trust
Q: Will my account number, cards, checks, username, or password change?
A: No changes are planned. Continue using your accounts, cards, checks, usernames, passwords, and digital banking services as you do today.
Q: Do I need to move my accounts or complete any paperwork?
A: No. There is nothing PenAir members need to do. Continue banking with PenAir as you
normally do.
Q: Will my rates or existing products change?
A: No changes to your existing PenAir products or services are planned as a result of the merger. Continue using your PenAir products and services as you do today.
Q: Are any PenAir locations closing?
A: No location closures are planned as part of this merger.
Q: Will I still see the same PenAir employees?
A: Our employees remain one of PenAir’s greatest strengths. Both credit unions are committed
to retaining employees and supporting them throughout the merger process so members can
continue receiving the personal service they value.
Q: What if I also have an account with Fort McClellan Credit Union?
A: For now, continue using your PenAir and FMCU accounts as you do today. We will provide
clear updates and support before any future account or system change requires action.
How Members Could Benefit
The proposed merger creates benefits for membership that are built around the goal of strengthening our ability to serve members and communities. For PenAir members, the immediate benefit is expanded access in Northeast Alabama through 6 additional locations, creating a network of 22 locations and growing across Alabama, Florida, and Virginia. The combined strength and resources of both credit unions will support investment in:
- Greater resource to invest in technology, digital banking, products, and services.
- Competitive rates and returning value to members.
- More capacity to support financial education, community partnerships, and local outreach.
Q: Will PenAir change its name?
A: No. The combined organization will remain a member-owned, not-for-profit financial cooperative and will continue operating as PenAir Credit Union. Our commitment to serving members and communities will remain at the heart of who we are.
Q: How large would the combined credit union be?
A: The combined organization is expected to serve more than 155,000 members through 22 locations across Alabama, Florida, and Virginia. For members, the value is not simply in becoming larger. It is in having greater resources to invest in the services, technology, employees, and communities that matter to you.
OUR COMMITMENT TO YOU
Growth will not change what members should expect from PenAir: personal service, responsible financial guidance, and a commitment to helping people and communities thrive.
Employees, Leadership, and Name
Q: What does the proposed merger mean for employees?
A: Both credit unions are committed to retaining employees and supporting them throughout the merger process. We believe the merger can create opportunities for employees while helping ensure the knowledgeable, friendly people members know and trust remain part of the future organization.
Q: Who will lead the combined credit union?
A: Lee Morgan, PenAir’s president and CEO, will lead the combined organization as president
and CEO. Angela Smith, FMCU’s president and CEO, will serve as president of the Fort
McClellan Division during the integration, helping provide leadership and continuity as the
organizations come together
Q: What will the combined credit union be called?
A: The continuing credit union will be PenAir Credit Union. Following the legal merger, FMCU
locations are expected to operate for a period of time under “Fort McClellan Credit Union a
division of PenAir Credit Union.”
Approvals and Timing
Q: What happens next?
A: The proposed merger must receive regulatory approval and approval from eligible Fort McClellan Credit Union members. Until those approvals are received, PenAir and FMCU will continue operating as separate credit unions.
Q: Do members get to vote?
A: Eligible FMCU members will vote on the proposed merger after regulatory approval. Approval requires a two-thirds majority of the FMCU members who participate in the vote. PenAir members do not vote on the proposal.
Q: When would the merger become official?
A: The legal merger is currently expected in the first half of 2027, subject to required approvals. Operational integration would continue in phases through 2027 and into 2028. Timing may change, and we will share updates as important milestones are reached.
Q: Why will integration take time?
A: Bringing two credit unions together involves careful planning. Taking a phased approach helps the organizations make thoughtful decisions, keep members informed, and reduce disruption. There is no immediate action for PenAir or For McClellan members while that work continues.
Staying Informed
Q: How will I receive updates?
A: PenAir will share important updates through PenAir.org/FMCU, email communications, branch communications, frequently asked questions, and additional member notices as needed. Our goal is to provide clear information before any change requires action from you.
Q: What should I do if I have questions?
A: Visit PenAir.org/FMCU for the latest information or contact PenAir through your usual member service channel. Our team will help answer questions using the most current information available.
Thank you for your trust and for allowing PenAir Credit Union to be part of your financial journey.
We look forward to building this next chapter with you.