Legacies of Service. A Future of Opportunity.
PENSACOLA, Florida and ANNISTON, Alabama– PenAir Credit Union (PenAir) and Fort McClellan Credit Union (FMCU) have announced plans to merge. The proposed partnership brings together two member-owned credit unions with nearly 165 years of combined service. These credit unions share a commitment to helping people improve their financial well-being, strengthening communities, and delivering exceptional service.
Subject to regulatory approval and a vote of eligible Fort McClellan members, the combined organization will serve more than 155,000 members through 22 locations and growing across Alabama, Florida, and Virginia. The merger represents a significant chapter in the history and legacy of both Fort McClellan and PenAir. Leaders from both organizations say the proposed merger is about far more than size. It is about bringing together two strong credit unions that share similar values, a people-first philosophy, and a long history of serving their communities.
“Fort McClellan Credit Union is an exceptional organization with a proud history of service and deep roots in the communities it serves,” said Lee Morgan, president and CEO of PenAir Credit Union. “As we got to know the FMCU team, it became clear that we share the same beliefs about what a credit union should be. We both believe in putting people first, investing in our communities, and helping members improve their financial well-being. This partnership allows us to build on those shared values while creating new opportunities for members, employees, and the communities we serve.”
Fort McClellan Credit Union has served members in Northeast Alabama for more than 70 years, building a strong presence in Anniston and the surrounding communities. Through the proposed merger, FMCU members would gain access to PenAir’s expanded products and services, technology and digital banking capabilities, broader network of locations, additional financial resources, and maintain the personal service they know today.
Fort McClellan Credit Union President and CEO, Angela Smith, said the decision to move forward was driven by a desire to enhance opportunities for members while preserving the personal service and local relationships that have defined FMCU for more than seven decades.
“For more than 73 years, Fort McClellan Credit Union has been a part of the lives of our members and the communities we call home,” Smith said. “As we considered the future of our credit union, we were intentional about finding a partner that respected what we have built and shared our commitment to people. We found that in PenAir. This partnership allows us to preserve the relationships and community connections that make FMCU special while opening the door to even greater opportunities for our members and employees.”
For members, the proposed merger is expected to create meaningful opportunities, including access to a larger branch and ATM network, extended service channels including PenAir’s virtual branch, expanded business and wealth management services, and additional resources to support members’ financial journey. The partnership also includes significant commitments to FMCU employees and members, including employee retention initiatives, expanded benefit opportunities, and a special member dividend for eligible FMCU members prior to the legal merger.
Following regulatory and FMCU member approval, PenAir Credit Union would become the continuing credit union. Lee Morgan will continue serving as president and CEO of the combined organization, and Angela Smith will serve as President, Fort McClellan Division during the integration period, helping provide continuity and leadership as the organizations come together. The legal merger is currently anticipated during the first half of 2027, with operational integration continuing through 2027 and into 2028. Until that time, members should continue banking as they do today. Additional information, including important dates and details about the member vote, will be communicated directly to FMCU members as the process progresses.
Leadership from both credit unions agree, this partnership and merger creates something special and exciting. The merger will not only preserve two great legacies but create a future of opportunity with even more cabability to serve, support, invest, and enhance the lives of our members and communities. To learn more about the merger, visit www.PenAir.org/FMCU.
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About PenAir Credit Union
Established in 1936, PenAir Credit Union has been a bold force for good, uniting community, resources, and impact. With assets surpassing $2.7 billion, PenAir is dedicated to enhancing the lives of its members from Mobile, Alabama, to Tallahassee, Florida, and Southwest Virginia. As a member-owned institution, PenAir prioritizes individual needs, ensuring tailored solutions for financial success. Beyond financial services, PenAir actively contributes to community growth through education, development projects, and charitable endeavors. Learn more about how PenAir is building a legacy of economic empowerment and community enrichment at https://www.penair.org.
About Fort McClellan Credit Union
Founded in 1953 and based in Anniston, Alabama, Fort McClellan Credit Union is a state-chartered, low-income-designated credit union dedicated to serving the financial needs of its members and the communities it serves. With more than $224 million in assets and 15,000 members, the credit union combines a strong community focus with a broad range of financial products and services designed to help members achieve their financial goals. http://www.fortmcclellancu.org
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