Finance news

Two credit unions on Maui have voted in favor of a merger.

The boards of both the Lahaina Federal Credit Union and the Valley Isle Community Federal Credit Union voted unanimously in favor of the merger, which was approved by the National Credit Union Administration.

Under the merger, which is targeted for Oct. 1, all members will be under the Valley Isle Community FCU name.

Valley Isle Community FCU, the second largest credit union on Maui, will have assets totaling more than $89 million and a membership base of approximately 11,400 following the merger, the company said no fax payday loan.