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Clearview Credit Union acquires A-K Valley CU

| Tuesday, Aug. 3, 2010

A-K Valley Federal Credit Union, Lower Burrell, merged into the much larger Clearview Federal Credit Union, Moon, in an asset transfer that was completed Saturday, the two institutions said Monday.

A-K Valley has four branches, nearly 11,000 members and about $61 million in assets. Its 23 workers will be retained by Clearview, said spokeswoman Christianne Gribben. Clearview signs will go up on A-K Valley branches next week, she said, but A-K Valley accounts will not convert to the Clearview name until July, when systems will be integrated. A-K Valley members approved the merger on June 29.

The credit union's board agreed to the merger after it was unable to find a replacement for its longtime CEO Janet Horn, who in 2008 announced her retirement once a successor was named. She and her husband, Lanny, A-K Valley's chief financial officer, retired effective last Sunday. Clearview is the region's largest credit union, with more than 78,000 members, 17 branches and more than $629 million in assets.

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