HATTIESBURG, Miss.—The $142-million CenturyFirst Federal Credit Union here has agreed to merge with $5.1-million Water's Edge FCU, with members of the Biloxi, Miss.-based credit union scheduled to vote on the proposal Aug. 25, according to NCUA and merger materials distributed to members.
CenturyFirst has launched a dedicated merger webpage for Water's Edge members, describing the combination as an opportunity to expand products, technology and branch access while preserving the member-owned cooperative model. Merger materials sent to Water's Edge members state the board unanimously approved the transaction after determining the combination would better position members for long-term service and financial strength.
According to the NCUA, the proposed transaction is now open for member comment through the agency's merger-comment process. If approved by Water's Edge members and regulators, CenturyFirst would become the continuing institution. The agency lists the member vote for Aug. 25.