Fort McClellan Credit Union, based in Anniston, is merging with Pensacola-based PenAir Credit Union.
Subject to regulatory approval and a vote of Fort McClellan members, the combined organization, under the PenAir Credit Union name, will serve more than 155,000 members through 22 locations across Alabama, Florida and Virginia.
“As we got to know the FMCU team, it became clear that we share the same beliefs about what a credit union should be,” said Lee Morgan, president and CEO of PenAir Credit Union. “We both believe in putting people first, investing in our communities and helping members improve their financial well-being. This partnership allows us to build on those shared values while creating new opportunities for members, employees and the communities we serve.”
For more than 73 years, Fort McClellan Credit Union has served members in Northeast Alabama. It has assets of more than $224 million and 15,000 members. Through the merger, its members will gain access to PenAir’s expanded products and services, including digital banking capabilities, a broader network of locations and additional financial resources.
“As we considered the future of our credit union, we were intentional about finding a partner that respected what we have built and shared our commitment to people,” said Angela Smith, president and CEO of Fort McClellan Credit Union. “We found that in PenAir. This partnership allows us to preserve the relationships and community connections that make FMCU special while opening the door to even greater opportunities for our members and employees.”
Following the regulatory and FMCU member approval process, Morgan will continue serving as PenAir Credit Union president and CEO, while Smith will serve as president, Fort McClellan division during the integration period, helping to provide continuity and leadership as the organizations come together. The legal merger is expected to take place during the first half of 2027, with integration continuing through 2027 and into 2028.
PenAir Credit Union was established in 1936 and has assets of more than $2.7 billion, with branches in Alabama, Florida and Virginia.
