Truliant Federal Credit Union and Piedmont Advantage Credit Union Agree to Merge in $6 Billion Combination

Truliant Federal Credit Union and Piedmont Advantage Credit Union have signed a definitive agreement to combine, creating a larger regional financial cooperative with more than 360,000 members and approximately $6 billion in assets.

The merged institution will operate under the Truliant name and charter and is expected to expand to more than 40 branch locations across the Carolinas and Virginia. The deal brings together two long-standing credit unions with more than 70 years of combined history serving members in central and southeastern U.S. markets.

Credit union consolidation has accelerated in recent years as smaller institutions look to achieve scale, invest in digital banking infrastructure and compete with larger banks and fintech platforms. For member-owned institutions, mergers are often positioned as a way to preserve community banking models while expanding product offerings and operational efficiency.

Truliant CEO Todd Hall said the combination is designed to strengthen member services rather than reduce them.

“This is an opportunity to build on what both organizations already do so well,” Hall said. “By bringing our teams together, we can expand our impact and deliver even more meaningful value for the members we serve.”

Piedmont Advantage CEO Dion Williams said the merger reflects a strategic decision aimed at long-term sustainability and member value.

“This is a people-first partnership, grounded in shared values and a clear sense of purpose,” Williams said.

The combined credit union is expected to remain headquartered in Winston-Salem, North Carolina. Leadership said few, if any, layoffs are anticipated, though some roles may be adjusted as operations are integrated. Hall will lead the combined organization, while Williams will assist during the transition period.

Both credit unions will continue operating independently until the merger closes, which is expected in early 2027, pending regulatory approval and a member vote from Piedmont Advantage members.

The deal reflects broader consolidation trends in the U.S. credit union industry, where institutions are increasingly merging to manage rising compliance costs, invest in digital banking capabilities and expand geographic reach while maintaining their not-for-profit structure.

If completed, the transaction would create one of the larger credit unions in the region, strengthening competition in markets dominated by national banks and digital-first financial platforms.