Martinsville, Virginia (September 2017) – ValleyStar Credit Union and Piedmont Credit Union announced their intent to merge the two Virginia-based credit unions, subject to regulatory approvals. The merger of these two organizations will provide a wider array of products and services to the members of Piedmont, along with an expanded branch and ATM network.
“We are pleased to have the opportunity to merge with such a strong financial institution as ValleyStar,” said Alice Ann Crowl, President of Piedmont Credit Union. “The Piedmont Board of Directors and I feel that by combining our two organizations, we will greatly enhance the quality of service for our members and create a more secure Credit Union for years to come.”
Once combined under the ValleyStar name, the Credit Union will have more than $375 million in assets and 40,000 members across Virginia and North Carolina.
“Bringing Piedmont into the ValleyStar family is a natural fit,” remarked Delbert Lee Morgan, President/CEO of ValleyStar Credit Union. “We have been serving the Danville community for years and this will allow us to serve them more effectively, with additional branches, ATMs, and employees in the area. We are looking forward to the partnership and all that it offers our members.”
The member data conversion is anticipated to be complete by June 2018.