PORTLAND, Maine—The $93-million TruChoice FCU has acquired the $7-million Portland Police Department FCU.
The merger was prompted by PPDFCU facing increasing costs due to regulatory requirements and technology upgrades, said TruChoice President Ken Acker in a release.
Hosea Carpenter, former CEO of PPDFCU, retired at the end of 2014, three months after an employee was fired after an investigation into fraud allegations.
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