Hampton Roads Catholic Federal Credit Union in Virginia Beach, Va., has merged into ABNB Federal Credit Union in Chesapeake, Va.
The $580 million-asset ABNB said on Thursday that Hampton Roads, which had about $5.3 million in assets and served roughly 1,000 members, was formed in 1966 to serve members who belonged to parishes of the Catholic church in Norfolk, Virginia Beach and the Eastern Shore of Virginia. The merger was completed last week.
The two employees of Hampton Roads will continue to work at a branch in Virginia Beach, a spokesperson for ABNB, told Credit Union Journal.
“We’re honored that Hampton Roads Catholic FCU chose ABNB to continue serving their members,” Charles Mallon Jr., president and CEO of ABNB, said in a statement. “We look forward to bringing a comprehensive suite of financial products and services including Insurance and Investments to their members today and in the years to come.”
ABNB posted net income of $162,970 through the first nine months of 2018, after incurring a loss of $500,591 in the same period in 2017.
Hampton Roads earned $6,123 in the first nine months this year, roughly the same amount it recorded in the comparable period in the prior year.
