Parsons FCU & Skyla are Merging in 2023!

In short, the merger is to help develop scale for the future. The economies of scale and the operational efficiencies realized through the merger are expected to offer long-term benefits to the membership. Among its other benefits, the merger will also provide our employees with access to a formal training program and a career development department. 

The following are some of the enhancements from this merger:

• Access to a 24/7 contact center.
• First mortgage loans will include escrow/impound accounts.
• A complete business lending program.
• An enhanced digital banking experience. 
• Access to an expanded portfolio of products and services.
• Access to lower borrowing rates and higher yields. 
• Kasasa^® Checking high yield eligible balance will increase from $10,000 to $15,000.

Skyla is the new brand name adopted by Charlotte Metro Federal Credit Union. This new brand name was brought about due to the merger of Premier FCU into Charlotte Metro FCU in 2021. Charlotte Metro FCU was founded in 1962 to serve Charlotte’s city employees. Since that time, Charlotte Metro FCU has grown significantly by reaching out to numerous groups that qualify for membership. 

Skyla fully embraces the credit union philosophy and service levels that we hold true at Parsons FCU. As an added benefit, Skyla utilizes the same data processing system as we do, making the data conversion much easier. Combined, we will have approximately $1.4 billion in assets which gets us to the scale needed to operate successfully in the future.

Yes. Parsons FCU was founded in 1975 to provide financial services to Parsons employees and their families. We take pride in helping Parsons employees and family members realize their financial goals and this commitment will continue unaltered. 

Yes. Both offices will remain open, and we look forward to expanding in both Pasadena, CA and Centreville, VA with the additional resources provided through this merger. 

All Parsons FCU employees are being retained during this transition. As part of a larger organization, our employees will have access to additional opportunities for career development and growth. Consideration for our employees was a major part in analyzing the benefits of a merger. The Parsons FCU staff that our members are used to dealing with will continue to serve our members after the merger is completed.

Three members of the Board of Directors will become Skyla board members. You will continue to have representation.

The merged organization will operate under the Skyla Federal Credit Union (Skyla) name. 

Parsons has proudly served the financial needs of Parsons Corporation, its affiliates, and their family members since 1975. Today, they have 24 employees and 2 physical branch locations in Pasadena, CA and Centerville, VA.

For current Skyla customers, the immediate – and easily seen – impact of this merger is an expanded footprint since we will be growing outside of the Carolinas. Another important element is the scale this provides the combined institution. We’ll be able to accelerate already-planned technology advancements and grow our community support efforts, while continuing to provide the personalized, friendly service our members expect.

We don’t have to merge! Both institutions are financially sound individually. But with 107 combined years of experience, the financial strength of both organizations and shared vision will create an even stronger financial institution, enabling us to better serve our members, provide increased accessibility, technology, and financial products, and quickly grow.

The best part? This merge is taking Skyla national, meaning more convenient access for you anywhere you go!

Nope! We recently changed our name to Skyla in October 2022 with the intention of using this name for the long haul. 

All Parsons FCU records and systems will transition to Skyla’s systems.

Don’t worry – your favorite Skyla employees aren’t going anywhere! This is truly just an expansion of our current organization. Our geographic regions don’t overlap, which is one of the many reasons this was an ideal merger opportunity!

Skyla will still be headquartered at 800 Central Ave, Charlotte NC and there will not be any layoffs or reductions in staff as a result of the merger.