Two small Bloomfield-based credit unions are proposing to merge with East Hartford-based credit union Victory/Piaterer Mutual Benefit Association, regulatory filings show.
American Mutual Credit Union Inc. and Jordan Mutual Benefit Association, both of Bloomfield, on Nov. 30 submitted an application to the state Department of Banking to merge with and into Victory/Piaterer.
American Mutual and Jordan Mutual are tiny savings cooperatives, each with less than $200,000 in assets. Both credit unions also have the same manager/CEO, Abraham Sigal, and are also listed at the same address at 116 Cottage Grove Road, according to the National Credit Union Administration.
American Mutual has 101 members, while Jordan Mutual has 44 members.
Meanwhile, Victory/Piaterer Mutual Benefit Association, located at 21 High St. in East Hartford, has $2 million in assets, with 184 members.
