REV Federal Credit Union in Summerville, S.C., has agreed to buy First Neighborhood Bank in Spencer, W.Va.
The $1.1 billion-asset credit union did not disclose the price it will pay for the $149 million-asset bank.
“Our mission is growth with purpose,” Jason Lee, the credit union’s president and CEO, said in a press release. “This purpose is centered around member impact, social impact, economic impact and ensuring our long-term survivability.”
First Neighborhood is the 15th bank to agree to sell to a credit union this year. The busiest year for credit union-bank deals was 2022 when 16 were announced.
Heritage Trust Federal Credit Union rebranded as REV in 2020.