CARCO Credit Union Members Approve Merger with Educational Systems Credit Union


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September 12, 2019 – The members of CARCO Federal Credit Union recently voted to merge with Educational Systems Federal Credit Union.

CARCO FCU has served the financial needs of Caroline County Public Schools’ employees since 1955. In 2018, the CARCO FCU Board of Directors decided to partner with Educational Systems FCU to better serve the needs of their members. In 2019, the Board of Directors recommended a formal merger, which was voted on and approved by the members of CARCO FCU on August 29, 2019.

“Educational Systems FCU is the perfect fit for CARCO FCU and our members because they share our core purpose of serving the education community,” stated Milton Nagel, CARCO FCU Board President. “They currently serve seven other Maryland school systems including Talbot County Public Schools, and will dramatically broaden the product and service offerings to our 600 members.”

Educational Systems FCU has 12 branches and a wide variety of products and services such as checking accounts with debit cards, mortgages, home equity lines of credit, credit cards, certificates and mobile banking with mobile deposit. The Denton Office will remain open with the current hours of 3:00 PM to 5:00 PM Tuesday through Friday after the merger.

“We are excited to welcome the employees and retirees of Caroline County Public Schools and their families to Educational Systems Federal Credit Union,” said Chris Conway, President/CEO of Educational Systems FCU.  “Our mission is to grow by helping the members of the education community achieve their financial goals and dreams, and we look forward to helping the education community in Caroline County with our products and services designed to help teachers, administrators, support staff and school system retirees.”

Information about the transition may be found on the Educational Systems FCU website page for CARCO FCU members.