The Board of Directors of Cecil County School Employees’ Federal Credit Union have called a special meeting of the members of this credit union at Cecil County Public School Board of Education Building 201 Booth St, Elkton, MD 21921, on December 3, 2025, at 4:30 PM.
- To consider and act upon a plan and proposal for merging Cecil County School Employees’ Federal Credit Union with and into First Financial of Maryland Federal Credit Union (hereinafter referred to as the “Continuing Credit Union”), whereby all assets and liabilities of the Cecil County School Employees’ Federal Credit Union will be merged with and into the Continuing Credit Union. All members of Cecil County School Employees’ Federal Credit Union will become members of the Continuing Credit Union and will be entitled to and will receive shares in the Continuing Credit Union for the shares they own in Cecil County School Employees’ Federal Credit Union on the effective date of the merger.
- To ratify, confirm and approve the action of the Board of Directors in authorizing the officers of Cecil County School Employees’ Federal Credit Union, subject to the approval of members, to do all things and to execute all agreements, documents, and other papers necessary to carry out the proposed merger.
The Board of Directors of Cecil County School Employees’ Federal Credit Union encourages you to attend the meeting and vote on the proposed merger. Whether or not you expect to attend the meeting, we urge you to sign, date and promptly return the enclosed ballot to vote on the proposed merger. Or you may also choose to vote online at https://ccsefcu.cuballot.com.
If you wish to submit comments about the merger to share with other members, you may submit them to the National Credit Union Administration (NCUA) at https://www.ncua.gov/support-services/credit-union-resources-expansion/credit-union-merger-resources/comments-proposed-credit-union-mergers
or mail to:
NCUA - Office of Credit Union Resources and Expansion
1775 Duke Street
Alexandria, VA 22314
RE: Member-to-Member Communication for Cecil County School Employees’ Federal Credit Union
The NCUA will post comments received from members on its website, along with the member's name, subject to the limitations and requirements of its regulations.
Other Information Related to the Proposed Merger:
The Board of Directors has carefully evaluated and analyzed the assets and liabilities of the credit unions and the value of shares in both credit unions. The financial statements of both credit unions, as well as the projected combined financial statement of the continuing credit union, follow as separate documents. In addition, the following information applies to the proposed merger.
Reasons for merger: The Board of Directors has concluded that the proposed merger is desirable and in the best interests of members because our shared resources will allow the combined credit union to enhance product and service offerings and member convenience through better technology, more product and loan offerings, and more locations/ATMs.
The combined credit union will also bring its strong social responsibility to the communities served by Cecil County School Employees’ Federal Credit Union through volunteer service, financial education and grants and donations to individuals, families, and the community.
Both organizations share a strong value-based culture that will create a better, more resourceful organization that can effectively compete, develop new products and services, expand access and ease of doing business, and give back to our members and the communities we serve.
Net worth: The net worth of a merging credit union at the time of a merger transfers to the continuing credit union. Cecil County School Employees’ Federal Credit Union does not have a higher net worth ratio than First Financial of Maryland Federal Credit Union.
Share adjustment or distribution: Cecil County School Employees’ Federal Credit Union will not distribute a portion of its net worth to its members in the merger. The board of directors has determined a share adjustment, or other distribution of Cecil County School Employees’ Federal Credit Union's net worth is unnecessary because ownership will be merged into and survive at First Financial of Maryland Federal Credit Union.
Locations of merging and continuing credit union: Cecil County School Employees’ Federal Credit Union’s main office at 203 Booth St, Elkton, MD 21921 will remain open.
The administrative office of the continuing Credit Union will be as follows:
First Financial of Maryland Federal Credit Union
72 Loveton Circle
Sparks Glencoe, MD, 21152
In addition to the administrative office, the continuing Credit Union has eight branch locations within Maryland. For more information on branch offices and the products and services available, please visit www.firstfinancial.org
Further, the continuing Credit Union is a participant of the Allpoint network giving members access to over 55,000 surcharge-free ATMs nationwide.
Changes to services and member benefits: First Financial of Maryland Federal Credit Union strives to offer the very best financial products and services in order to meet the diverse needs of their members, and to help their members live better every day.
You will benefit from this new relationship by having access to a complete line of products and services, many of which you don’t have available today. These products and services include:
- Online and mobile banking services which will allow members to conduct their financial transactions from anywhere in the world
- Access to checking accounts, debit cards, and cashback reward credit cards
- Access to various loan products including mortgages, auto loans, personal loans and mor/li>
- Access to the Allpoint ATM Network, giving members access to over 55,000 ATMs nationwide
- A dedicated Loan Call Center and Member Service Center
- Access to First Financial of Maryland Federal Credit Union’s strong community engagement and financial education resources
Merger-related financial arrangements: NCUA Regulations require merging credit unions to disclose certain increases in compensation that any of the merging credit union's officials or the five most highly compensated employees have received or will receive in connection with the merger. The following individuals have received or will receive such compensation:
| Name | Title | Description of Increase | Amount |
|---|
| None | None | None | None |
Please note that the proposed merger must have the approval of the majority of members who vote.
Enclosed with this Notice of Special Meeting is a Ballot for Merger Proposal. If you cannot attend the meeting, please complete the Ballot and return it to CU Ballot - Election Processing P.O. Box 3156, Dublin, OH 43016 or vote online at https://ccsefcu.cuballot.com. To be counted, your Ballot must be received by December 3, 2025 by 4:30pm. Online voting will be available for those who choose to attend the meeting in person.
BY THE ORDER OF THE BOARD OF DIRECTORS:
