SECU, Maryland's largest state-chartered credit union, announced Tuesday that it will acquire Anne Arundel County
Employees Federal Credit Union.
The proposed merger — with SECU as the surviving entity — would expand banking services and access to AACE FCU, which has 14,000 members and $81 million in assets, the financial cooperatives said.
The Anne Arundel County employees credit union joins the larger entity, which has over 225,000 members and $2.26 billion in assets.
All AACE FCU members were notified last week of the merger, which requires regulatory and member approval. The merger is expected to close in the third quarter.
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