Two small credit unions in Connecticut have plans to merge later this year.
Danbury Cyanamid Employees Credit Union is planning to merge with and into Stamford-based Cornerstone Community Credit Union, according to the Connecticut Department of Banking.
Danbury Cyanamid Employees Credit Union has been open since 1957. The credit union has assets totaling $6.46 million and provides banking services to more than 1,000 members. Cornerstone Community Credit Union, formerly known as Fairfield County FCU, has been open since 1934.
It’s the 10th-largest credit union in Connecticut with assets totaling nearly $50 million and providing banking services to more than 5,000 members.
There have been several other small credit union mergers in the state of Connecticut in past months.
CT1 Media Credit Union Inc. merged with and into Hartford Federal Credit Union in June. Last year, Rogers Employees Federal Credit Union merged with and into Trumbull-based America’s First Network Credit Union.
