Affinity Federal Credit Union and Piscataway Township Employees Federal Credit Union (PTEFCU) Merge
The merger amplifies Affinity’s impact in the state, expanding its reach to a larger membership and maintaining its position as New Jersey’s largest credit union headquartered in the state.
BASKING RIDGE, N.J. Affinity Federal Credit Union, a member-owned and community-focused credit union, and the Piscataway Township Employees Federal Credit Union (PTEFCU), a central New Jersey-based credit union with a 60-year history, have merged.
The merger adds to Affinity’s existing presence in New Jersey, New York and Connecticut and extends its mission of improving the financial wellbeing of its members and the communities it serves. Affinity is excited to welcome the tenured members of PTEFCU and their families to its member base.
Affinity and PTEFCU are member-owned, not-for-profit, full-service financial institutions federally insured by the National Credit Union Administration (NCUA). As a staple of the Piscataway community for over six decades, PTEFCU shares Affinity’s community focus and member-centric philosophy of ‘People helping People’, rooted in a commitment to advancing members’ overall financial wellbeing.
“At Affinity, we are committed to advancing the financial wellbeing of all of our members and our community - a mission that is also core to PTEFCU’s work,” said John Fenton, Chief Executive Officer of Affinity. “By adding the PTEFCU membership, Affinity will be able to further amplify its impact in our New Jersey communities and the lives of our members. We are proud to welcome our new members to the Affinity family.”
PTEFCU was founded in 1962 and is currently led by Randy Bahr. Bahr continued in service to PTEFCU, after Stephen Prohaska, a thought leader and community advocate directed the credit union for over 30 years. Created for Piscataway Township employees and volunteers, PTEFCU offers a variety of financial and banking services, including a credit card and a variety of automotive and recreational loans. Following the merger, PTEFCU will rebrand as Affinity.
“Affinity has long been recognized for its superior member experience,” said Bahr. “At PTEFCU we, too, share the goal of putting our members first. We strive to craft that same experience to help our communities achieve their financial goals, and we know that by aligning with Affinity, we can give our members access to a greater range of tools, resources, and technology that will enhance our member experience and allow us to engage with a much larger group of individuals and businesses.”
About Affinity Federal Credit Union
Affinity Federal Credit Union is a full-service financial institution, member-owned and community focused, with a mission to improve the financial well-being of our members and the communities we serve by making their unique dreams a reality. With more than 20 branches across the tri-state area, Affinity is the largest credit union headquartered in the state of New Jersey, proudly ranking in the top 2% of all credit unions in terms of asset size1. The Affinity difference is about people helping people on a deeper level and understanding what YOU need. For more information, please visit www.affinityfcu.com.
Media Contact
Alex George
Gregory FCA for Affinity Federal Credit Union
affinity@gregoryfca.com
610-228-2104
1 Source: NCUA.gov. Using the “Credit Union and Corporate Call Report Data” found here: https://www.ncua.gov/analysis/credit-union-corporate-call-report-data