SECU, Maryland's largest state-chartered credit union, announced Tuesday that it will acquire Anne Arundel County Employees Federal Credit Union.

The proposed merger — with SECU as the surviving entity — would expand banking services and access to AACE FCU, which has 14,000 members and $81 million in assets, the financial cooperatives said.

The Anne Arundel County employees credit union joins the larger entity, which has over 225,000 members and $2.26 billion in assets.

All AACE FCU members were notified last week of the merger, which requires regulatory and member approval. The merger is expected to close in the third quarter.

Hanah.cho@baltsun.com

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